Several Analysts Weigh In On Finish Line

Multiple analysts released coverage on Finish Line (NASDAQ: FINL) over the weekend.

Canaccord Genuity's Camilo Lyon reiterates its a Buy rating on Finish Line, with a $34 price target, up 6.3 percent from the firm's previous target of $32. Lyon is unfavorable as Finish Line's gross margin declined by 42 basis points, influenced by clearance. The analyst was bullish on the retailer's store comps of five percent, in-line with expectations, and inventory growth of one percent, with sales growth of 16 percent.

Citi maintains its Neutral rating, but increases its price target from $29 to $33 per share. Analysts at Citi prefer Foot Locker over Finish Line in the footwear space. Citi projects higher growth potential in Foot Locker with great performance, Runners Point acquisition in Europe and being the leader in digital and kid's wear.

UBS analyst Steven Strycula maintains his Neutral rating on Finish Line and raises his price target from $29 to $30 per share. Strycula increased his second quarter EPS projection from $0.58 to $0.61, due to same-store sales increasing by 50 basis points from the previous quarter and a gross margin increase of 80 basis points.

Strycula projects July and August same-store sales to increase from its June highs due to a delay in the marquee basketball sneaker launch.