GCO Should I Buy

Truist analyst Joseph Civello raised the firm's price target on Genesco to $40 from $32 and keeps a Hold rating on the shares. Genesco shares were up 3%, outperforming the S&P 500, on a solid Q1 beat as trends accelerated through the quarter, and quarter-to-date is tracking in-line with Q1, the analyst tells investors in a research note. The firm noted that Journeys continues to generate strong comps with premium product assortments fueling higher ASPs and full priced selling. The firm added that it is encouraged by the company's momentum but remains cautious on the choppy macro, especially as we get past tax refund season.