Market Overview

UPDATE: Goldman Sachs Raises PT on Finish Line to Reflect Innovation Cycle

Related FINL
Benzinga's Top Downgrades
JP Morgan Downgrades Finish Line To Hold
Finish Line 1Q Profit Doubles to Top Views (Fox Business)

In a report published Friday, Goldman Sachs analyst Taposh Bari reiterated a Neutral rating on Finish Line (NASDAQ: FINL), and raised the price target from $18.00 to $22.00.

In the report, Goldman Sachs noted, “We are raising price targets on FL and FINL, justifying a slightly higher multiple ahead of a host of new product launches for back-to-school. Our new price targets offer 16% upside for FL and 2% upside for FINL. Our annual EPS estimates remain unchanged. We expect investors to re-rate FL and FINL closer to their historic averages as a rich athletic footwear product pipeline re-engages consumers for back-to-school and Holiday. Specific examples of innovation include 1) the continued commercialization of Nike Flyknit, with a reacceleration of North American reported futures sales as evidence, 2) new platforms Boost and Spring Blade by Adidas and 3) the anniversary of 30% declines at Reebok (1 year) and Puma (2 years).”

Finish Line closed on Wednesday at $21.53.

Posted-In: Goldman Sachs Taposh BariAnalyst Color Price Target Analyst Ratings

 

Most Popular

Related Articles (FINL)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free