UPDATE: Deutsche Bank Raises PT on Finish Line on Accelerating SSS Trends

In a report published Monday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on Finish Line FINL, and raised the price target from $23.00 to $24.00. In the report, Deutsche Bank noted, “FINL's sharp move higher Friday was justified, in our view, as SSS trends accelerated from slightly negative to +MSD, the Macy's partnership continues to drive stronger than expected productivity, and expenses were managed better than expected – a reversal from last year's stumbling blocks. That said, we will remain on the sideline for now as management stated that the 2Q beat (vs. the Street) was actually just in-line with their view (no quarterly guidance), GPM missed in 2Q and 2H guidance was lowered due to a need to promote and markdown more aggressively in the current environment, and FY earnings were reiterated opposed to a raise (due to additional expenses expected in 4Q vs. consensus) despite the Street already being ahead of the company's guidance.” Finish Line closed on Friday at $24.41.