Genesco initiated with a Hold at Truist

Truist analyst Joseph Civello initiated coverage of Genesco (GCO) with a Hold rating and $23 price target The turnaround at Journeys “has been impressive, but visibility is clouded by the macro” environment, the analyst tells investors in a research note. The firm thinks macro uncertainty may stall the chain’s momentum, especially since its mall-based exposure may make it more susceptible to a discretionary downturn.