RTTNews | Jan 4, 2022 10:45AM EST

10:45 Tuesday, January 4, 2022 (RTTNews.com) - Athletic footwear brand, Foot Locker, Inc. (FL), is trading 4% lower on Tuesday after JP Morgan Stanley analysts downgraded the stock to "underweight" from "Neutral".

The firm has also slashed the stock's target price to $47 per share from $66 amidst a continued supply chain crisis and harsh competition. Since December 2021, the stock has dropped 20% on the market.

Currently, the stock is trading hands at $42.94, down $1.81 or 4.04% since the previous close at $44.76. The stock opened at $42.77 in the morning. In the 52-week period, the stock has ranged between $39.10 and $66.71 per share.

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