Sterne Agee Raises Finish Line Estimates; PT Goes From $20 To $23

Sterne Agee is raising its estimates and price target on Finish Line, Inc. (NASDAQ: FINL).

“We are raising our 3Q11 FY11 and FY12 EPS estimates from $0.06, $1.27, and $1.38 to $0.12, $1.32, and $1.44,” Sterne Agee writes.

“We are also introducing a $1.54 EPS estimate for fiscal 2013 (year ending February '13). We are raising our price target from $20 to $23 which reflects a PE of 14.9X (11.9X ex cash) and an EV/EBITDA of 6X our 2013 estimates.”

Finish Line currently trades at $18.64.