Citi Upgrades FINL To Buy

Citi has issued a report upgrading Finish Line Inc FINL from Hold to a Buy Rating. According to the report, “We upgrade FINL to Buy from Hold following our 4/13/11 Citi meeting with management as we believe con't sales and margin upside/acceleration is likely and on a ~15x multiple yields a stock price of $25 (~+24% upside). We look for better EPS on product cycle strength (lightweight running and basketball), occupancy leverage (on store productivity), & merchandise margins (strong inventory control/flow).” FINL has a $45 Price Target and closed at $20.24 a share yesterday.