Genesco price target raised to $32 from $26 at Jefferies

Jefferies raised the firm’s price target on Genesco (GCO) to $32 from $26 and keeps a Hold rating on the shares. The firm notes the company delivered a solid holiday quarter, led by strong in-store and e-commerce trends and significant momentum at Journeys, which is comping double digit percentage and benefiting from newness and the 4.0 remodel’s 25% lift. Looking ahead, Jefferies is encouraged by recent near-term trends but remains sidelined.