Seaport Global upgrades Genesco to Buy with $38 price target.

Seaport Global upgrades Genesco to Buy with $38 price target.

Seaport Global analyst Mitch Kummetz has upgraded Genesco Inc. (GCO) to a "Buy" rating, setting a price target of $38. The upgrade comes after a period of market neutrality, signaling a change in sentiment towards the retailer and wholesaler of branded footwear, apparel, and accessories. According to the analyst, the move is driven by the company's strong financial performance and robust market position [2].

Genesco operates through four primary segments: Journeys Group, Schuh Group, Johnston & Murphy Group, and Genesco Brands Group. The company's extensive retail footprint includes over 1,341 stores across the United States, Puerto Rico, Canada, the United Kingdom, and the Republic of Ireland. The analyst's positive outlook is likely influenced by the company's diverse product offerings and strong brand portfolio, which includes licensed brands such as Dockers, Levi's, and G.H. Bass [1].

The upgrade follows a series of positive analyst ratings for other companies in the sector. For instance, Canaccord Genuity's Kingsley Crane upgraded Okta Inc. (OKTA) to a "Buy" rating with a price target of $120, while Evercore ISI Group's Elizabeth Anderson upgraded Henry Schein Inc. (HSIC) to "Outperform" with a price target of $83 [2]. These upgrades underscore the growing confidence in the retail and technology sectors, where Genesco operates.

Genesco shares closed at $28.46 on Monday, July 1, 2025, indicating a significant gap between the current price and the new price target of $38. This suggests that the market may be undervaluing the company's potential, providing an opportunity for investors to capitalize on the upgrade.

References:
[1] https://www.marketscreener.com/news/seaport-global-upgrades-genesco-to-buy-from-neutral-price-target-is-38-ce7c50d9d889f72d
[2] https://www.benzinga.com/analyst-stock-ratings/upgrades/25/08/47328429/this-henry-schein-analyst-turns-bullish-here-are-top-5-upgrades-for-tuesday