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Fly News Breaks for March 20, 2017
NKE, FLEX
Mar 20, 2017 | 06:41 EDT
Citi analyst Jim Suva placed Flex (FLEX) on his firm's Catalyst Watch list ahead of the company's investor day on May 10. The analyst expects Flex to highlight its sales and earnings opportunities from the Nike (NKE) relationship during the event. Nike in October 2015 announced a strategic partnership with Flex to automate its shoe manufacturing process. Suva sees the partnership driving sustainable growth for Flex and keeps a Buy rating on the shares with an $18 price target.
News For FLEX;NKE From the Last 2 Days
NKE
May 22, 2017 | 07:26 EDT
Canaccord analyst Camilo Lyon lowered his price target on Foot Locker (FL) to $75 from $87 following disappointing Q1 results. The analyst said Q2 comps are expected to be weaker than Q1 as the guidance speaks to a product innovation lull from Nike (NKE) that is weighing on Foot locker's business. Lyon believes the lull is a short-term blip and the second half will see a rebound. Lyon maintained his Buy rating on Foot Locker shares.
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