Foot Locker price target raised to $26 from $20 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Foot Locker to $26 from $20 and keeps an Equal Weight rating on the shares. A Q3 beat and roughly in-line Q4 guidance “surprised to upside,” but the firm struggles to model both Q4 and beyond with conviction in light of recent volatility and “numerous overhangs,” the analyst tells investors.