Sterne Agee Downgrades Genesco (GCO) to Neutral on Valuation

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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