Susquehanna Downgrades Genesco (GCO) to Neutral on Valuation

November 17, 2016 6:18 AM EST
Get Alerts GCO Hot Sheet
Price: $70.40 -1.05%

Rating Summary:
    3 Buy, 11 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 21 | Down: 36 | New: 11
Trade GCO Now!
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.

Susquehanna downgraded Genesco (NYSE: GCO) from Positive to Neutral with a price target of $62.00, saying the stock is fairly valued at its current level.

Analyst Sam Poser commented, "We are downgrading GCO to Neutral and maintaining our $62 price target. The expected uptick in the stock occurred shortly following our note on November 3rd wherein we raised our PT to $62. The stock is up ~28% since our September 15th initiation and now appears to adequately reflect: 1) the benefit to the Lids Group business from the Cubs' World Series win; and 2) the risk/reward surrounding a potential rebound in the Journeys business. Furthermore, the stock now trades at ~13.5x FY19 EPS which is slightly above historical averages. As a result, we expect shares to tread water for the foreseeable future."

For an analyst ratings summary and ratings history on Genesco click here. For more ratings news on Genesco click here.

Shares of Genesco closed at $66.15 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Analyst Comments, Downgrades

Related Entities

Susquehanna International Group of Companies, Sam Poser

Add Your Comment