Deutsche Bank Downgrades Finish Line (FINL) to Hold

September 12, 2016 7:07 AM EDT
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Price: $17.63 +1.67%

Rating Summary:
    9 Buy, 23 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Deutsche Bank downgraded Finish Line (NASDAQ: FINL) from Buy to Hold with a price target of $24 (unchanged). Analyst Paul Trussell noted an increase in the share price and investor expectations.

"FINL shares have performed well YTD (up 34% vs. SPX 7%) as new leadership has improved supply chain execution and lifted comps by closing unproductive doors and enhancing the footwear assortment. With easy compares ahead and momentum in key categories (running & casual), we think FINL is on the right path to stable top-line productivity and DD EPS growth, which have been elusive," said Trussell

The analyst added, "Our downgrade to Hold reflects limited upside to our $24 PT as we already incorporate optimistic ests. and are unwilling to adjust our multiple above 13x in this volatile retail backdrop. As for 2Q (to be reported 9/23), we reiterate our ests. for 3% SSS and $0.55 in EPS (2c above the Street)."

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 $23.40 yesterday.

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