Genesco Upgraded to Buy with Positive Outlook for Journeys Brand Growth

Genesco (GCO) has been upgraded to Buy by Seaport Research analyst Mitch Kummetz, with a new price target of $38. The decision is based on the firm's belief in Genesco's potential, particularly in the Journeys brand, which is showing promising growth. Genesco operates in the consumer cyclical sector and has a market capitalization of approximately $306.77 million. The company's revenue growth has shown resilience over various time frames, but profitability metrics reveal challenges, and the balance sheet reflects a mixed picture. Valuation metrics indicate potential undervaluation, with a P/S ratio of 0.13, below the median of 0.33.