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Shares of Foot Locker Inc. fell Friday after Citi analyst Paul Lejuez turned bearish two days before earnings are due and as investors appear to have gotten carried away, considering that the holiday selling season is expected to be pretty challenging for the athletic-shoe seller.
Lejuez cut his rating on the stock to sell from neutral, saying a weakening economic outlook and “still-elevated” inventory levels will lead to more discounting than planned during the holidays. That makes him one of five of the 21 analysts surveyed…
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