As previously reported, Morgan Stanley upgraded Foot Locker (FL) to Overweight from Equal Weight and trimmed its price target to $65 from $70. Analyst Jay Sole believes share weakness related to investor concerns surrounding share loss to Amazon (AMZN) and brands' own websites has created an "excellent" buying opportunity. The analyst said Amazon and Foot Locker target different segments, with less than 5% of Foot Locker's 200 top selling shoes on Amazon, and brands desire the strong, premium mall presence that Foot Locker provides. Sole thinks recent weak comp performance was due to changing fashion trends, February's tax refund shift, and weaker sales in basketball footwear and for the company to surprise the Street by returning to 3%-5% comp growth in upcoming quarters.