BofA analyst Lorraine Hutchinson lowered the firm’s price target on Foot Locker (FL) to $25 from $30 and keeps a Neutral rating on the shares. The firm, which is lowering its FY24 EPS view by 19% to $1.22 to reflect continued margin pressure in Q4, thinks the stock’s low multiple balances risks to the sales turnaround and margin recovery.
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