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Fly News Breaks for May 23, 2016
FL
May 23, 2016 | 07:17 EDT
Brean Capital lowered its price target on Foot Locker to $66 from $78 after shares sold off following the company's report of quarterly results and disappointing April comps. The firm had hoped to see earnings de-risked with better comps and now believes the level of difficulty in hitting 2016 estimates has moved higher. Brean Capital still sees a compelling risk/reward in the stock and maintains its Buy rating on Foot Locker shares.
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