Sterne Agee Upgrades Genesco (GCO) to Buy
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Sterne Agee upgrades Genesco (NYSE: GCO) from Neutral to Buy.
The upgrade follows yesterday morning's Q1 results, which came in much better than Street analysts had been expecting.
Despite management saying it is "now slightly more comfortable" with its previously issued FY10 outlook, shares of Genesco ended yesterday's trading session down about 7 cents from Wednesday's close. Today, however, traders may be responding to the analyst upgrade as shares of Genesco are currently up 6.4% to $25.31.
Genesco Inc. engages in the retail of footwear, and licensed and branded headwear; and the wholesale of footwear primarily in the United States.
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