Foot Locker price target lowered to $20 from $21 at Williams Trading

Williams Trading lowered the firm’s price target on Foot Locker (FL) to $20 from $21 and keeps a Hold rating on the shares. The firm reduces estimates post Foot Locker’s Q3 miss and fiscal 2024 guidance cut. The company’s FL’s confidence on the Q2 earnings call that improved allocations from Nike (NKE) would drive and an acceleration in sales proved unfounded, the analyst tells investors in a research note.