Gilford Securities Reiterates Buy Rating on Finish Line
In a report published Monday, Gilford Securities reiterated its Buy rating on Finish Line (NASDAQ: FINL).
Gilford Securities noted, “An alliance with Macy's creates a long-term opportunity that enhances FINL's investment appeal, resulting in upside potential that appears to outweigh the downside risk. Use weakness in FINL's shares as a buying opportunity, in our opinion...The slump for running shoes creates uncertainty for the next several quarters, but inventories and expenses are being adjusted quickly to mitigate risk to profits. We assume profits from the Finish Line stores will stabilize if sales are up modestly. This should set the stage for a profit rebound by Finish Line stores as the Macy's venture becomes profitable.”
Finish Line closed on Friday at $17.45.
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