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UPDATE: Citigroup Downgrades Finish Line to Neutral on Near-Term Uncertainty

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Citigroup reduced its rating on Finish Line (NASDAQ: FINL) from Buy to Neutral and reduced its price target from $30 to $20.

Citigroup noted, "We are downgrading FINL to Neutral from Buy given the lack of potential positive catalysts over the next several qtrs. While we continue to believe FINL is strongly positioned for the longer term w/its premium offering & omni-channel investments, we expect the co's Q3 miss and reduced outlook to weigh on FINL shares for the near-term. In addition, Macy's startup expenses will likely weigh on results for the next several qtrs. We would be more interested in getting back involved once: a) the co. improves its mix, and b) Macy's starts to contribute."

Finish Line closed at $17.94 on Friday.

Latest Ratings for FINL

DateFirmActionFromTo
Nov 2014FBR CapitalInitiates Coverage onMarket Perform
Oct 2014Piper JaffrayUpgradesNeutralOverweight
Oct 2014JP MorganMaintainsNeutral

View More Analyst Ratings for FINL
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

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