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Fly News Breaks for February 10, 2020
FL
Feb 10, 2020 | 08:08 EDT
Jefferies analyst Janine Stichter reduced her Q4 EPS estimate for Foot Locker, noting that she had previously sensed that comps were tracking negative when the company reported its Q3 results in late November and she doubts comp performance has improved enough to bring comps to the guided about flat range given a lack of blockbuster launches and ongoing headwinds in retro apparel. However, she believes this near-term comp dynamic is largely factored into buyside expectations and sees potential for comps to accelerate over the next several quarters. She keeps a Buy rating on Foot Locker shares, but trimmed her price target on the stock to $48 from $52 ahead of the company's report due on February 28.