Finish Line (FINL) PT Bumped to $29 at Piper Jaffray

Piper Jaffray analyst Erinn Murphy reiterated an Overweight rating and bumped her price target on Finish Line (NASDAQ: FINL) to $29.00 (from $28.00), citing favorable risk/reward into a 2nd-half recovery.

Murphy commented, "We are incrementally positive on the set up for FINL shares believing they are a candidate for outperformance in 2015 following travels through the Midwest with CFO Ed Wilhelm. While execution and a lack of industry-wide innovation within the running category were challenges that plagued the company in 2014, we believe the self-inflicted issues have been contained and the path forward towards margin recovery should take hold in 2H. Importantly, the pipeline for new product is encouraging—particularly from key vendor partners NIKE and Under Armour. We believe comps are on plan for Q1. Longer-term, we believe the company can see op margin expansion from 6.9% to 9.5% which would yield $3.50 in EPS power. FINL is now the cheapest stock in our universe (EV/EBITDA), generates a FCF yield in the 6%-plus range and has ~6M shares remaining for repurchases."

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 $24.97 yesterday.

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