UPDATE: Jefferies Color on Finish Line Initiation

Jefferies, which initiated coverage of Finish Line Inc. (NASDAQ: FINL), is providing color on the stock.

“A strong product cycle across multiple brands and large categories is leading Finish Line to post record-breaking results,” Jefferies writes. “After years of distractions, management is now intently focused on the core business and is capitalizing on the opportunity. We see EPS upside fueled by ongoing category momentum, operating leverage and more aggressive share repurchases.”

Finish Line closed Thursday at $21.88.