UPDATE: Credit Suisse Reiterates Neutral Rating, Lowers PT on Finish Line
In a report published Wednesday, Credit Suisse Group reiterated its Neutral rating on Finish Line (NASDAQ: FINL), but lowered its price target from $23.00 to $20.00.
Credit Suisse noted, “FINL reports 3Q13 on Friday, and we believe the setup is difficult due to a combination of weaker running trends, problems with its new website during an important selling period, weather disruptions in Q3 and early in Q4, and upcoming expenses in Q4 related to the Macy's rollout. Therefore, we are lowering estimates for 2H13, and our price target to $20 (from $23). We are lowering our FY13/14/15 EPS estimates to $1.60/$1.81/$2.03 (from $1.68/$1.90/$2.11) respectively.”
Finish Line closed on Monday at $18.93.
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