UPDATE: Goldman Sachs Lowers PT on The Finish Line Following Lowered SSS/EPS Estimates
In a report published Friday, Goldman Sachs analyst Taposh Bari reiterated a Neutral rating on The Finish Line (NASDAQ: FINL), but lowered the price target from $22.00 to $20.00.
In the report, Goldman Sachs noted, “We are lowering SSS and EPS estimates for FINL on growing share loss to vendors' direct-to-consumer operations (notably Nike) and non-athletic channels like family footwear and department stores (which it is capturing some of through Macy's). We also lower our 12-month price target to $20 from $22 and remain Neutral rated on heightened execution risk as the company rolls-out Macy's shop-in-shops at an aggressive pace this year.”
The Finish Line closed on Thursday at $21.97.
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