Analysts at Bank of America Merrill Lynch and Deutsche Bank are headed in completely different directions when it comes to shares of Louisiana-Pacific. Michael Roxland at BofA has upgraded Nashville-based LP (Ticker: LPX) to 'buy' from 'neutral' and has hiked his price target all the way to $16 from $9. But Mark Wilde at Deutsche has downgraded LP from 'buy' to 'hold' and trimmed his price target to $12 from $14. LP is changing hands late this morning at about $13.20.
Mark Montagna at Avondale Partners isn't buying the second-half guidance from the top executives at Genesco, who yesterday posted stronger-than-expected fiscal Q2 numbers. Genesco CEO Bob Dennis said his team expects same-store sales to grow between 1 percent and 2 percent between now and January, but Montagna is keeping his forecast at 4 percent and has lifted his EPS estimates for the year to 10 cents above to the high end of management's $5 range.
Considering Journeys and Schuh are the #1 destination for fashion footwear for teens and young adults, it simply does not add up to GCO posting its comp guidance […] GCO can guide the street to such a low number because with its superior vendor relationships it can always call in extra inventory to post comps far above guidance.
Shares of Genesco (Ticker: GCO) are changing hands at about $71, down 1.5 percent on the day. Montagna has an $84 target.