The firm said it raised its rating on the athletic shoes and apparel retailer as it believes Finish Line will see an acceleration it its margin recovery.
Canaccord Genuity upped its price target on Finish Line to $33 from $26.
"We believe the issues that drove the decline in merchandise margins last year are nearing an end, resulting in a faster margin recovery than current estimates or guidance imply," the firm said in an analyst note.
"In addition Finish Line should benefit from an improved assortment of running product that more closely matches current casual demand trends as well as an increased allocation of key basketball styles," the note continued.
Shares of Finish Line closed at $26.44 on Friday afternoon.
Separately, TheStreet Ratings team rates FINISH LINE INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate FINISH LINE INC (FINL) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and notable return on equity. We feel its strengths outweigh the fact that the company shows weak operating cash flow."