These Analysts Increase Their Forecasts On Foot Locker After Strong Earnings
Portfolio Pulse from Lisa Levin
Foot Locker, Inc. (NYSE:FL) reported Q3 FY23 sales of $1.99 billion, surpassing estimates of $1.97 billion, with adjusted EPS of $0.30 beating the $0.25 consensus. The company improved its FY23 sales and comparable sales guidance, leading to a 16.1% stock increase. Telsey Advisory Group and Citigroup updated their price targets for Foot Locker following the earnings announcement.
November 30, 2023 | 12:30 pm
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POSITIVE IMPACT
Foot Locker reported strong Q3 results with higher than expected sales and EPS, positively revised FY23 guidance, and experienced a significant stock price increase. Analysts have raised their price targets.
The positive earnings report and updated guidance indicate a strong performance and outlook for Foot Locker, which has been recognized by the market with a substantial stock price increase. Analysts' raised price targets further validate the company's momentum, likely leading to continued investor interest and potential short-term price appreciation.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100