Gilford Sees Finish Line Shares in $30-35 Range Over Next Two Years

Gilford Securities' Bernard Sosnick issued a reassuring note on Finish Line

Monday morning. The analyst highlighted his belief shares of Finish Line could move into the $30 to $35 range over the next 24 months. Sosnick pointed at a conservative internal estimate from Finish Line on it's affiliation deal with Macy's

. The company previously said it sees the deal adding around $0.30-0.35 per share to earnings; Sosnick believes a more appropriate assumption would be around $350 million. Sosnick said this is based on some "enthusiastic comments" from Macy's management. The Gilford analyst also was encouraged by optimism from Finish Line managers related to launches of running shoes for the back-to-school season. Sosnick maintains a Buy rating on shares of Finish Line. With shares of Finish Line down about $0.02 to $22.59 Monday afternoon, the $30-35 target by Gilford suggests upside of about 44 percent.