Susquehanna Downgrades Finish Line (FINL) to Neutral
- Wall Street falls as investors ready for Trump's inauguration
- IBM (IBM) Tops Q4 EPS by 13c, FY17 EPS Guidance Beats Consensus
- American Express (AXP) Misses Q4 EPS by 7c, FY17 EPS Guidance Tops Views at Mid-Poinit
- Skyworks Solutions (SWKS) Tops Q1 EPS by 3c, Offers Q2 Guidance, Announces Buyback
- After-Hours Stock Movers 01/19: (SWKS) (QRVO) (NVAX) Higher; (AFMD) (SGYP) (IBM) Lower (more...)
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Susquehanna downgraded Finish Line (NASDAQ: FINL) from Positive to Neutral with a price target of $23.00, saying the story quickly played out.
Analyst Sam Poser commented, "The stock was priced at $19.60 when we upgraded it from Neutral to Positive, with a $23 PT, on November 3rd. The upgrade was predicated on reports that FINL would be looking for a buyer for its 70 store JackRabbit specialty running business. We believed & continue to believe that exiting the JackRabbit business is prudent, so FINL management can focus on its core mall based businesses. On November 15th, FINL issued a press release stating it was working with Peter J. Solomon Company LLC as an advisor, but said that there was no timeframe for the sale of JackRabbit. FINL management did say that they anticipate incurring a $44M non-cash goodwill impairment charge in 3Q17, as FINL explores strategic alternatives for JackRabbit."
Shares of Finish Line closed at $23.67 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Deckers Outdoor (DECK) Bear Poser at Susquehanna Modestly Lifts Numbers
- UPDATE: SunTrust Robinson Humphrey Starts Woodward (WWD) at Hold
- UPDATE: SunTrust Robinson Humphrey Starts Moog (MOG-A) at Hold
Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
Related EntitiesSusquehanna International Group of Companies, Sam Poser
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!