Citi Reiterates Buy On FinishLine After Earnings

Citi Investment Research is reiterating its Buy rating and is raising its price target to $27 from $25 on shares of FinishLine FINL after it reported earnings last night. In a note to clients, Citi Investment Research writes, " FINL results & MTD are compelling positive readthrough to Buy-rated Foot Locker (FL). FINL is a strong beneficiary on Running product focus & Nike Track Club differentiation brand/product (~400 stores & reaching ~all by EOY). We expect EPS upside on product cycle strength (lightweight running/basketball), occupancy lvg. (on store productivity), & merch margins (strong inventory control/flow). We think one of the few risks to the story is the potential for the NBA lockout." Shares of FINL are off $1.72 today to $21.45, a loss of over 7%.