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Fly News Breaks for August 17, 2018
FL
Aug 17, 2018 | 07:45 EDT
Canaccord analyst Camilo Lyon previewed Foot Locker's Q2 results and he believes near-term headwinds persisted during the quarter. The analyst believes the company needs to get past the Jordan and strong upcoming European comps, before the shares can resume their upward move. He notes European comps get easier in Q3 and he believes the Jordan sales have stabilized leading to positive second half results. Lyon reiterated his Buy rating and $66 price target on Foot Locker shares.
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