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Fly News Breaks for May 23, 2016
FL
May 23, 2016 | 06:52 EDT
Citi analyst Kate McShane views Friday's post-earnings selloff in shares of Foot Locker as a buying opportunity. The analyst attributes the pullback to negative quarter-to-date comp trends and the weaker basketball performance in Q1, but says her confidence in Foot Locker's ability to outperform a difficult U.S. retail environment this year has increased. She lowered her price target for the shares to $68 from $81 and keeps a Buy rating on the name.
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