Morgan Stanley Reiterates Equal-Weight Rating on Finish Line
In a report published Wednesday, Morgan Stanley reiterated its Equal-Weight rating on Finish Line (NASDAQ: FINL).
Morgan Stanley noted, “We believe this will be a key quarter for Finish Line as it will show investors the company's ability to manage SG&A spend while its comp is like slowing. Bears believe management will continue to spend despite softer comps. Trading at 10.1x NTM estimates, vs 12.4x three year average, some nervousness is priced in. However, in the current market it seems as though no real bad news is totally priced in. Given softening trends offset by cheaper valuation and growth prospects in CY2014 from the Macy's deal, we maintain our Equal-weight rating.”
Finish Line closed on Monday at $18.93.
Latest Ratings for FINL
|Oct 2014||Piper Jaffray||Upgrades||Neutral||Overweight|
|Oct 2014||JP Morgan||Maintains||Neutral|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.