Fly News Breaks for May 19, 2017
May 19, 2017 | 11:36 EDT
Jefferies analyst Randal Konik said Foot Locker shares are appear oversold and remains a favorite way to play a strong footwear cycle. The analyst moderated numbers due to reduced guidance but said the long-term remains good, the story of share gains remain, and valuation is attractive. Konik rate Foot Locker a Buy with an $80 price target.
News For FL From the Last 2 Days
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.