Foot Locker upgraded to Outperform from Market Perform at Telsey Advisory

Telsey Advisory analyst Cristina Fernandez upgraded Foot Locker to Outperform from Market Perform with a price target of $50, up from $39. The analyst believes Monday’s investor day could serve as a catalyst for the stock, with new CEO Mary Dillon outlining a transformation plan and financial objectives. Dillon has made changes to the leadership team and simplified the business by exiting international operations, while focusing on the core Foot Locker and Champs banners, the analyst tells investors in a research note.