Foot Locker: Susquehanna cuts target, but stays 'positive'
(CercleFinance.com) - Susquehanna says it remains "positive" on Foot Locker, although it has cut its target price for the share after the US shoe and clothing chain reported disappointing quarterly results.
According to the broker, Friday's pullback in the share price offers a "compelling" risk-reward set-up with "limited downside."
While it remains confident that the retailer will achieve its guidance and that it expects the stock to recover, Susquehanna has cut its earnings estimates on the company, and has slashed its target price from 80 dollars to 52 dollars.
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