Foot Locker Gets Price Target Cuts By Analysts Following Downbeat Earnings
Portfolio Pulse from Lisa Levin
Foot Locker reported a decline in Q1 FY23 sales by 11.4% YoY to $1.93 billion, missing analyst estimates of $1.99 billion. Adjusted EPS of $0.70 also missed the consensus of $0.81. Following the downbeat earnings, several analysts cut their price targets on the stock.
May 22, 2023 | 11:37 am
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NEGATIVE IMPACT
Foot Locker's Q1 FY23 sales and EPS missed estimates, resulting in price target cuts by several analysts and a potential negative impact on the stock.
Foot Locker's worse-than-expected Q1 FY23 results led to multiple analysts cutting their price targets on the stock. This negative sentiment could result in a short-term downward pressure on the stock price, as investors may lose confidence in the company's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100