Foot Locker Climbs on Upgrade

Foot Locker (NYSE:FL) stock rose sharply on Wednesday after Credit Suisse raised its forecasts for the footwear retailer.The bank’s analysts indicated that while the stock has performed well to start 2023, sentiment remains overly bearish. Namely, the team believes narratives about negative impacts from Nike (NYSE:NKE) pulling away from the retailer are overblown.“We see consistent evidence that the Nike relationship is improving, and we’re increasingly convinced that the planned pullback from FL will be far less damaging than we initially expected,” the team told clients. “Since new…