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Fly News Breaks for August 18, 2017
FL
Aug 18, 2017 | 11:50 EDT
Barclays analyst Matthew McClintock cut his price target for Foot Locker to $50 from $80 post today's results but keeps an Overweight rating on the shares. He believes most investors will views today's second half comp guidance of down 3% to down 4% as realistic. When combined with Foot Locker's efforts to reduce expenses, this should "soften the blow" to both earnings and valuation multiple downside, McClintock tells investors in a research note.
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