Sterne Agee Downgrades Genesco (GCO) to Neutral on Valuation

July 15, 2013 7:24 AM EDT Send to a Friend
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Price: $73.43 +0.85%

Rating Summary:
    5 Buy, 6 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 15 | Down: 38 | New: 13
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Sterne Agee downgraded Genesco (NYSE: GCO) from Buy to Neutral on valuation, although they say the long term story remains intact.

While analyst Sam Poser considers Genesco at good company will solid management, the 17% run-up since 6/24 (6.5% for SPX) makes the case for staying on the sidelines and waiting for a better entry point.

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 $74.41 yesterday.

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