Jefferies Raises the Price Target on Finish Line (FINL) Following Managements Call to Action
Jefferies reiterates a Buy rating on Finish Line (NASDAQ: FINL), and raised the price target to $31.00 (from $29.00), following managements call to action. Analyst Edward Plank says FY16 is showing early promise as 1Q results beat on nearly every metric.
Plank commented, "Following a few quarters of choppiness, mgmt's call to action for operational discipline is beginning to deliver results as the turnaround takes clearer shape. With FY16 off to a better than expected start, we are optimistic FINL can execute improvements to its core biz through stronger merchandising and supply-chain functionality, while also aligning its smaller Macy's and RSG divisions for future EBIT growth. Reiterate Buy, PT to $31."
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Shares of Finish Line closed at $28.25 yesterday.