UPDATE: Morgan Stanley Reiterates Overweight Rating, Raises PT on Finish Line as Outlook is Improving

In a report published Thursday, Morgan Stanley analyst Jay Sole reiterated an Overweight rating on

, and raised the price target from $33.00 to $34.00. In the report, Morgan Stanley noted, “FINL's most recent quarter indicated its outlook is brightening. We see 14% upside from the current stock price and a 2:1 risk/reward. Our $1.92 FY1 EPS estimate is high on the Street. We think FINL's 1.3x PEG ratio vs. the Softlines 1.5x group average represents compelling value.” Finish Line closed on Wednesday at $29.94.