Jefferies Maintains Buy Rating and $25 PT on Finish Line

After meeting with Finish Line

management Jefferies publishes a report reiterating its Buy rating and $25 price target. The report states, “There was a time when the market was unsure how management would deploy its excess cash reserves (given the history under a different regime). Those fears have been put to rest over the past 2 months with $45m of stock buyback last quarter (most ever) and The Running Company acquisition in September. We believe these investments, along with core Finish Line retail and e-commerce are wise uses of capital. Equally important, the market should now have visibility into the strategy in place with reduced capital allocation risk”. FINL closed yesterday $20.48.