UPDATE: JPMorgan Downgrades Foot Locker (FL) to Underweight

JPMorgan analyst Matthew R. Boss downgraded Foot Locker (NYSE: FL) from Neutral to Underweight with a price target of $42.00 (from $60.00).

The analyst comments "We rate FL Underweight given the combination of (i) market share compression (global brand DTC expansion / wholesale competition) in an expanding TAM athletic category and (ii) multi-year margin pressure points on both COGS (rising occupancy costs) & SG&A (wages/DC costs)."

For an analyst ratings summary and ratings history on Foot Locker click here. For more ratings news on Foot Locker click here.

Shares of Foot Locker closed at $44.76 yesterday.

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• Honasa Consumer Ltd (HONASA:IN) PT Raised to INR720 at ICICI Securities
• Petronet LNG Ltd. (PLNG:IN) PT Raised to INR310 at ICICI Securities