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Fly News Breaks for August 21, 2017
FL, FINL
Aug 21, 2017 | 07:24 EDT
UBS analyst Michael Binetti downgraded Finish Line (FINL) to Sell from Neutral based on the structural risks exposed by Foot Locker (FL) in its Q2 report. The analyst sees an incremental risk of a more rapid deterioration in Finish Line's core mid/lower tier markets versus Foot Locker. He also sees lower gross margins, prompting Binetti to lower his price target to $9 from $14 on Finish Line shares.
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