Sterne Agee Maintains Buy On Genesco Shares, $90 PT


In a research report issued today, Sterne Agee analyst Sam Poser maintained a Buy rating on Genesco Inc. (NYSE:GCO) with a price target of $90.00.

Poser explained, “We remain bullish on GCO ahead of 2Q results. Key casual brands will be a catalyst for 2H SSS acceleration. Management is doing a good job in managing store and ecommerce business in a tough mall/teen environment. In an over-stored world, Journeys and Lids are differentiated concepts. FY16 (CY15) consensus EPS estimates will need to increase, as the rolling off of the accrual for the contingent bonus payment related to the Schuh acquisition is embedded.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Sam Poser has a total average return of 21.5% and a 77.2% success rate. Poser is ranked #24 out of 3245 analysts.

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