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Fly News Breaks for February 26, 2020
Feb 26, 2020 | 07:24 EDT
Raymond James analyst Matthew McClintock lowered his price target for Foot Locker to $50 from $65 ahead of the company's Q4 results on February 28, saying apparel "probably wasn't great" during the quarter and that the footwear product launch cadence did not excite overall. After a challenging 2019, McClintock tells investors in a research not that he believes 2020 offers a reasonable basis for the company to guide more in line with their long-term plan calling for a low-single digit comp sales growth and high-single digit EPS growth and says Foot Locker's risk/reward is largely slated to the upside.
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