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Foot Locker (FL) Stock Price Target Reduced at Deutsche Bank

NEW YORK (TheStreet) -- Shares of Foot Locker (FL) are up 2.19% to $58.72 early Monday afternoon as its price target was decreased to $79 from $80 but its "buy" rating maintained at Deutsche Bank.

"We believe Foot Locker saw an acceleration in top-line trends in Q1 at the exact time that the rest of retail saw meaningful deceleration," Deutsche Bank analysts said in an investor note.

Last week shares of large retailers such as Macy's (M) and Nordstrom (JWN) were hit hard due to competition from Amazon.com (AMZN). As a positive takeaway for Foot Locker, branded footwear is one product that may be...


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