Wedbush Morgan Reiterates an 'Outperform' on Finish Line (FINL); Raises Price Target
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Wedbush Morgan reiterates an 'Outperform' rating on Finish Line (Nasdaq: FINL), raises price target to $12.
Wedbush analyst says, "FINL reports solid Q2 beat...Lease renegotiations will continue to be accretive to EPS in 2H09...September comps running +7%...Merchandise margins up 50bps...SG&A reductions are expected to continue. We reiterate our Outperform rating as we believe FINL is in the midst of margin recovery that will gain momentum when top line growth reemerges. We arrive at our $12 price target by applying a 15x forward P/E multiple on our 2010 EPS estimate of $0.78. This is a slight premium to its historical average of 14x, however, in line with its relative valuation discount of 10% to the S&P 500."
To see more analyst ratings on FINL Click Here.
The Finish Line, Inc., together with its subsidiaries, operates as a mall-based specialty retailer in the United States.
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