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FINL

Finish Line

$9.74

0.34 (3.62%)

11:06
09/13/17
09/13
11:06
09/13/17
11:06

Finish Line rallies after analyst puts chance of takeover at 75%

The shares of Finish Line (FINL) are rallying after research firm Susquehanna upgraded the athletic apparel retailer to Positive from Neutral. The firm thinks there is a 75% chance that Finish Line will be acquired, most likely by U.K.-based sporting good retailer Sports Direct. POISON PILL: Finish Line implemented its poison pill on August 28 because it wanted to force Sports Direct into talks and prevent it from completing an acquisition through a hostile takeover or by buying shares on the open market, wrote Susquehanna analyst Sam Poser. The fact that Finish Line's shares were near a five year low made this priority more urgent for the retailer, the analyst stated. 75% CHANCE: There is a 75% chance that Sports Direct will buy Finish Line for about $13.30 per share and a 25% chance that it will remain a standalone company, causing its stock to drop to $8, the analyst wrote. Before today's open, the stock reflected only a 30% chance of an acquisition, he stated. WHAT'S NOTABLE: As of late July, Sports Direct noted it held a stake in Finish Line of 19.7%. At that time, Sports Direct issued an amended filing to refer to its sale of put options in Finish Line. TARGET: Poser raised his price target on Finish Line to $12 from $9. PRICE ACTION: In morning trading, Finish Line jumped about 7% to $10.40.

  • 22

    Sep

FINL Finish Line
$9.74

0.34 (3.62%)

08/29/17
08/29/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. JA Solar (JASO) downgraded to Sell from Hold at Axiom with analyst Gordon Johnson saying recent results suggest that Chinese module vendors are not benefiting significantly from any U.S. demand pull-in. 2. Finish Line (FINL) was downgraded to Sell from Neutral at Citi and Deutsche Bank, while being downgraded to Underperform from Neutral at Buckingham, and to Neutral from Buy at FBR Capital. 3. Intellia Therapeutics (NTLA) downgraded to Neutral from Buy at Chardan with analyst Madhu Kumar citing relative valuation. 4. Loxo Oncology (LOXO) downgraded to Market Perform from Outperform at JMP Securities with analyst Michael King saying he believes the company's platform and assets under development are now being fairly valued with the stock having risen above his $71 price target. 5. Cemex (CX) downgraded to Neutral from Buy at BofA/Merrill with analyst Carlos Peyrelongue citing lack of positive catalysts and risk of disappointment in Mexico and the U.S. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/13/17
SUSQ
09/13/17
UPGRADE
SUSQ
Positive
Finish Line upgraded to Positive from Neutral at Susquehanna
09/13/17
SUSQ
09/13/17
UPGRADE
Target $12
SUSQ
Positive
Finish Line upgraded to Positive on takeover chances at Susquehanna
As reported previously, Susquehanna analyst Sam Poser upgraded Finish Line to Positive from Neutral. He gives the company a 75% probability of being bought out, with a 25% chance the stock falls to $8 as a standalone entity. The analyst believes management implemented its poison pill as they do not want a sale of the company to be at such a depressed price. Poser raised his price target to $12 from $9 on Finish Line shares.
09/13/17
09/13/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Micron (MU) upgraded to Buy from Neutral at Goldman Sachs with analyst Mark Delaney saying DRAM pricing could rise in the fourth quarter and the cycle could remain tight in 2018. 2. DowDuPont (DWDP) upgraded to Outperform from Market Perform at Cowen with analyst Charles Neivert saying he believes the Specialty Products and Materials Science realignment is a major step in upgrading the eventual spinco earnings. 3. Finish Line (FINL) upgraded to Positive from Neutral at Susquehanna with analyst Sam Poser saying he gives the company a 75% probability of being bought out, with a 25% chance the stock falls to $8 as a standalone entity. 4. Lydall (LDL) upgraded to Buy from Neutral at Sidoti with analyst Edward Marshall citing expectation the company's offerings will outpace the automotive peers due to market penetration and concentration in the fibers segment. 5. SQM (SQM) upgraded to Buy from Neutral at BofA/Merrill and to Hold from Underperform at Santander. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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XLF

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C

Citi

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0.76 (0.99%)

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CF

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10:25
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U.S. corporate bond update: moderate issuance is expected »

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