Morgan Stanley thinks the recent dip in Foot Locker (NYSE:FL) provides investors a strategic entry point.
Analyst Jay Sole says the company is prepared to defend itself from the impact of Amazon selling Nike shoes directly and expects its market share position to hold.
MS rates Foot Locker at Overweight and assigns a price target of $65.
Shares of Foot Locker are up 2.99% premarket to $50.30.
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