Cowen Cuts Price target on Finish Line (FINL) to $22 Following 2Q16

Cowen maintained a Market Perform rating on Finish Line (NASDAQ: FINL), and cut the price target to $22.00 (from $25.00), following the company's 2Q16 earnings results. FINL reported EPS of $0.57, in-line with consensus. Management maintained its FY16 SSS and EPS guidance for positive low- to midsingle digit growth.

Analyst John Kernan commented, "We see few levers to generate strong EPS growth over the next 3-5 years which justifies FINL's depressed valuation. FINL is struggling to drive consistent +MSD SSS & gross margin deterioration is ongoing despite a strong athletic environment which is benefiting its largest supplier NKE and its largest competitor FL. Our PT is cut to $22 from $25, reflecting 12x our FY17E EPS or 5x FY17E EV/EBITDA."

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 $24.77 yesterday.

You May Also Be Interested In

• CIBC Downgrades Celestica (CLS) to Neutral
• Saia Inc. (SAIA) PT Lowered to $570 at Jefferies
• Tenaris S.A. (TEN:IM) (TS) PT Raised to EUR21 at CFRA