BofA analyst Lorraine Hutchinson lowered the firm’s price target on Foot Locker (FL) to $20 from $25 and keeps a Neutral rating on the shares. 4 EPS beat the firm’s and consensus estimates on better gross margins, but February was soft and FY25 guidance for EPS was below expectations, the analyst tells investors. The firm is cutting its FY25 and FY26 EPS estimates to reflect lower comps and margins and lowering it target as it rolls forward its valuation framework to 2026 and applies a peer multiple.
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