Foot Locker price target raised to $35 from $26 at Baird

Baird raised the firm’s price target on Foot Locker to $35 from $26 and keeps a Neutral rating on the shares. The firm said they anticipate relatively in-line results given expectation for slightly positive comps, but for several factors to constrain EPS upside including SG&A spend and loyalty transition. Baird said they are more comfortable in back-weighted F2024E guidance, given recent acceleration in sales indicators.