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Fly News Breaks for August 26, 2019
FL
Aug 26, 2019 | 08:14 EDT
As reported previously, Baird analyst Jonathan Komp downgraded Foot Locker to Neutral from Outperform. The analyst said his value turnaround thesis has been pushed out following its disappointing Q2 results. He did say his longer-term views remain largely intact as he likes its strategic positioning supported by it loyalty program, connected inventory/POS, and other initiatives which will scale over time. Komp lowered his price target to $37 from $54 on Foot Locker shares.
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