Truist lowered the firm’s price target on Genesco (GCO) to $27 from $31 and keeps a Hold rating on the shares. The stock fell following a Q3 miss and lowering guidance well below the Street for Q4, the analyst tells investors in a research note. Journeys Q3 comps came in at up 6% vs. the double digit quarter-to-date comp at the time of the Q2 call as trends decelerated during the leading up to Black Friday, and the company believes it may see a similar pull-back following the Holiday season, Truist added.
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