Genesco Inc. (GCO) Receives Price Target Boost
Truist has raised its price target on Genesco Inc. (NYSE: GCO) from $23 to $25, while maintaining a Hold rating on the stock. This adjustment comes in light of Genesco's strong first-quarter results and its commitment to its full-year profits per share target, despite facing tariff challenges.
Notably, Genesco's Journeys brand has shown excellent momentum, which has contributed positively to investor sentiment. However, the company has highlighted some challenges, including anticipated price increases later in the year and potential impacts on gross margins stemming from sourcing and efficiency initiatives.
The reaction of customers to these changes remains uncertain. Despite Truist's optimism regarding the growth of the Journeys brand, the firm expresses caution due to the current macroeconomic landscape and possible shifts in consumer demand.
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Latest Updates on Genesco Inc.
Recent news highlights include:
- Jun-05: Truist Raises Genesco Inc. (GCO)'s Price Target by $2
- Jun-05: Morning Movers: Chart Industries, Flowserve both rise following merger pact
- Jun-04: Genesco Acknowledges 'More Pronounced' Tariff Impact, Stands By Guidance
- Jun-04: Journeys Helps Genesco Deliver Q1 Sales Above Expectations
- Jun-04: Genesco Inc. Reports Fiscal 2026 First Quarter Results