Wedbush Starts Finish Line (FINL) at Outperform
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Wedbush initiates coverage on Finish Line (NASDAQ: FINL) with a Outperform rating and a price target of $25.00.
Analyst Christopher Svezia commented, "We are initiating coverage of Finish Line (FINL) with an OUTPERFORM rating and $25 PT or 14x P/E. We believe the company can show modest margin improvement that could generate ~$2.30 in EPS by FY20 (15% CAGR). Leveraging its supply chain, benefits from store remodels, improved full priced sales, growth in digital, a profitable or divested Jack Rabbit are all factors largely not worked into this assumption and would only be additive. In addition, the current share repurchase authorization is equivalent to ~13% of the market cap. With shares trading at 11x P/E or a 14% discount to historical levels, investors give little value to the after mentioned factors."
Shares of Finish Line closed at $19.21 yesterday.
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