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Fly News Breaks for August 8, 2019
FL
Aug 8, 2019 | 07:17 EDT
As previously reported, Morgan Stanley analyst Lauren Cassel upgraded Foot Locker to Equal Weight from Underweight with an unchanged price target of $40. She sees a more balanced risk/reward following the stock having underperformed the S&P by 40% year-to-date. While she still sees revenue and EBIT margin risk as consumers increasingly prefer to shop directly with brands, Cassel thinks these risks appear to be priced in at the stock's current levels, she tells investors.
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