UPDATE: Jefferies & Company Reiterates Buy Rating, Lowers PT for Finish Line

In a report published earlier today, Jefferies & Company, Inc. reiterated its Buy rating for Finish Line, Inc. FINL, but lowered its price target from $28.00 to $25.00. Jefferies went on to say “We expect 1Q earnings (Thursday 6/28 AM) to be an event despite the fact that the company already pre-announced the quarter's SSS and EPS at its analyst day on 5/30. Areas of key focus will be 1) June-to-date SSS trends, 2) 2Q SSS and EPS guidance 3) SG&A dollar growth in 1Q and 4) updated SG&A guidance for FY. We continue to see value in FINL where sentiment is overly negative and the much maligned investment cycle has peaked.” Finish Line, Inc. closed on Friday at $18.68.