Citi Has Hold Rating On Finish Line Inc (FINL)

Citi Investment Research has a Hold rating and a $19 price target on shares of Finish Line Inc FINL. In a note to clients, Citi writes, "We think solid sales, MTD trends, and gross margin upside vs. our estimates at Finish Line bode well for our Buy-rated Foot Locker (1QE = Feb-March-April at FL). We expect FL to deliver accelerating EPS on continued comp momentum, gross margin upside (on inventory management and renewed focus on profitability), & robust footwear cycle fueled by technical running, a reacceleration in basketball, and an ongoing focus on fitness. We also look forward to upside at Foot Locker on developing apparel merchandising, increasing private label penetration, broadening the merchandise assortment, and emphasizing customer service initiatives." Shares of FINL gained 54 cents yesterday to close at $18.40, a gain of 3%.