Canaccord Genuity Reiterates a 'Buy' on Finish Line (FINL); Powerful Meeting with Management
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Price: $21.22 -1.67%
Rating Summary:
5 Buy, 13 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
5 Buy, 13 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade FINL Now!
Canaccord Genuity reiterates a 'Buy' on Finish Line (NASDAQ: FINL) price target raised to $26.00.
Analyst, Camilo Lyon, said, "Not surprisingly, the conversations centered on the digital investments, product cycle duration, and supply chain/fulfillment opportunities. As expected, investment spending will constrict EPS growth for the next two quarters but as we’ve written before, the stock is marking time before the rate of spend decelerates. That said, we view these investments as critical to not only maintaining but also gaining more of its core consumer’s share of wallet that is increasingly going online. Moreover, the innovation pipeline remains full and thus presents less risk to the model, we believe. With the stock trading at 12x our 2012 EPS estimate (9x ex-cash) we view the downside as limited and reiterate our rating." (raises estimates as pipeline looks solid and stronger new store openings (from 12 to 18))
For an analyst ratings summary and ratings history on Finish Line click here. For more ratings news on Finish Line click here.
Shares of Finish Line closed at $20.59 yesterday, with a 52 week range of $16.42-$26.16.
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Analyst, Camilo Lyon, said, "Not surprisingly, the conversations centered on the digital investments, product cycle duration, and supply chain/fulfillment opportunities. As expected, investment spending will constrict EPS growth for the next two quarters but as we’ve written before, the stock is marking time before the rate of spend decelerates. That said, we view these investments as critical to not only maintaining but also gaining more of its core consumer’s share of wallet that is increasingly going online. Moreover, the innovation pipeline remains full and thus presents less risk to the model, we believe. With the stock trading at 12x our 2012 EPS estimate (9x ex-cash) we view the downside as limited and reiterate our rating." (raises estimates as pipeline looks solid and stronger new store openings (from 12 to 18))
For an analyst ratings summary and ratings history on Finish Line click here. For more ratings news on Finish Line click here.
Shares of Finish Line closed at $20.59 yesterday, with a 52 week range of $16.42-$26.16.
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