Truist Raises Genesco Inc. (GCO)’s Price Target by $2

Truist has raised its price target on Genesco Inc. (NYSE:GCO) from $23 to $25, while maintaining a Hold rating on the stock.

Truist raises Genesco's price target raise by $2

A model wearing the newest apparel and accessories from the company, showcasing their up-to-date fashion sense.

This comes after Genesco Inc. (NYSE:GCO) reported strong first-quarter results and maintained its full-year profits per share target, despite the company’s current tariff implications. Investors can take confidence from its Journeys brand’s excellent momentum.

The company listed a few difficulties, such as select price increases that are expected later in the year and possible impacts on the gross margin from sourcing and efficiency initiatives.

The way that customers will react to these changes is unclear, though. Although Truist is upbeat about the Journeys brand’s development, it is nonetheless wary of the macroeconomic conditions and potential changes in consumer demand.

While we acknowledge the potential of GCO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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