Foot Locker: Jefferies corrects target price
(CercleFinance.com) - An analyst at Jefferies today corrected his target price for the Foot Locker share, reducing his estimates due to the coronavirus epidemic.
Jefferies has therefore cut its target price from 48 dollars to 37 dollars. However, the broker maintains its buy rating, sayings that its valuation is too cheap to be ignored.
"We see incremental pressure to 1Q EPS, as int'l COVID-19 situation has deteriorated. While mgmt could not comment on current business trends, they acknowledged that the environment had devolved significantly since the company guided F'21 just two weeks ago," Jefferies said.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Jefferies has therefore cut its target price from 48 dollars to 37 dollars. However, the broker maintains its buy rating, sayings that its valuation is too cheap to be ignored.
"We see incremental pressure to 1Q EPS, as int'l COVID-19 situation has deteriorated. While mgmt could not comment on current business trends, they acknowledged that the environment had devolved significantly since the company guided F'21 just two weeks ago," Jefferies said.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.