Deutsche Bank analyst, Paul Trussell, reiterated his Buy rating on shares of Foot Locker (NYSE: FL) but cut his price target to $74 from $88 as the change in tone and forward forecast from Foot Locker strikes the analyst as "a head scratcher" action that the analyst cannot defend. However, he sees 4 reasons to leave his Buy rating unchanged.

1) FL remains the go to destination for the ‘sneakerhead’
2) the hot brand Adidas has limited production to date
3) Nike’s product pipeline will improve as the year progresses
4) FL has a long track record of impressively managing expenses

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 $58.72 yesterday.