Foot Locker up after brokerages raise PT on upbeat Q1 profit

Foot Locker

31/05/2024 13:33

** Shares of specialty athletic retailer Foot Locker  FL.N 
up ~1% at $26.20 premarket 
    ** Guggenheim Securities raises PT to $35 from $30 on early
signs of benefits from FL's digital, store refresh and
diversification efforts
    ** Telsey Advisory Group raises PT to $27 from $26, citing
sequential improvement in Q1 "indicates its business and the
industry are on better footing"
    ** Barclays raises PT to $27 from $22, says although
business stabilizing is a positive, uncertainty remains on
ability to recapture margin, repositioning of Champs business
    ** Evercore ISI raises PT to $34 from $32
    ** FL beat Q1 profit estimates and maintained annual
earnings forecast on Thursday, owing to cost management
    ** Two of 19 brokerages rate stock "buy" or "higher", 13
"hold", four "sell" or "lower"; median PT is $24 - LSEG data
    ** Up to last close, stock down nearly 17% YTD

 (Reporting by Anuja Bharat Mistry in Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com;))