Goldman Sachs Maintains Sell on Foot Locker, Raises Price Target to $20
Portfolio Pulse from Benzinga Newsdesk
Goldman Sachs analyst Kate McShane has maintained a Sell rating on Foot Locker (NYSE:FL) but increased the price target from $18 to $20.
November 30, 2023 | 2:40 pm
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Goldman Sachs reaffirms Sell rating on Foot Locker, yet raises price target from $18 to $20, indicating a potential downside from current levels but a slightly improved outlook.
The maintenance of a Sell rating suggests that Goldman Sachs still sees challenges ahead for Foot Locker, which could negatively impact the stock price in the short term. However, the increase in the price target might reflect a less bearish view than before, possibly due to some positive developments or better-than-expected performance by the company. Despite the price target increase, the Sell rating is the dominant factor likely to influence investor sentiment negatively.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100