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Fly News Breaks for November 21, 2016
FL
Nov 21, 2016 | 07:39 EDT
UBS analyst Michael Binetti raised his price target on Foot Locker to $80 from $76 following in-line Q3 earnings. The analyst noted the results came in the midst of a difficult backdrop for retail, during which the company still reported positive traffic in the U.S. despite negative mall traffic during the quarter. Binetti said, based on today's momentum and easy comps heading into 2017, he believes shares look inexpensive. The analyst reiterated his Buy rating on Foot Locker shares.
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