Foot Locker shares are trading higher after Piper Sandler upgraded the stock from Neutral to Overweight and raised its price target from $24 to $33.
Portfolio Pulse from Benzinga Newsdesk
Foot Locker's stock (FL) is trading higher following an upgrade from Piper Sandler, changing its rating from Neutral to Overweight and increasing the price target from $24 to $33.
December 14, 2023 | 3:06 pm
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Foot Locker's stock is experiencing an uptick after an analyst upgrade from Piper Sandler, which also raised the price target for the stock.
Analyst upgrades typically lead to a positive short-term reaction in a stock's price as market participants adjust their valuations based on the new information. The increase in price target suggests a higher expected future performance, which can lead to increased investor confidence and buying activity.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100