Susquehanna Raises Estimates on Genesco (GCO) as Cubs Win World Series - PT to $62

November 3, 2016 6:57 AM EDT
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Price: $62.75 --0%

Rating Summary:
    3 Buy, 11 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 8 | New: 3
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Susquehanna reiterated a Positive rating on Genesco (NYSE: GCO), and raised the price target to $62.00 (from $57.00), following the Cubs world series victory. There are 40 Lids' Group stores in Illinois including 2 Cubs' Clubhouse stores and 9 Chicago Locker Room by Lids stores. FY17 & FY18 EPS estimates were raised from $3.88 & $4.47 to $4.12 & $4.53, respectively.

Analyst SamPoser commented, "Buy GCO. The Cubs' World Series victory was not built into 2H17 guidance for the now clean Lid's Group business. The 2H17 guidance business adequately reflects Journeys' short term problems, and there are signs of life beginning late in 4Q17 or early in 1Q18."

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 $53.35 yesterday.

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