After several quarters of taking a wait-and-see attitude, analysts are growing more bullish on the prospects for Genesco shares. Less than a week after C.L. King's Steven Marotta raised his rating on the Nashville-based retailer, veteran researcher Sam Poser has followed suit. The Sterne Agee CRT analyst says Genesco's Lids division has "hit the bottom" as execs continue to flush its inventories. At the same time, Poser notes, the Journeys chain is doing well and the Major League Baseball playoffs could goose profits. Poser has raised his rating on Genesco to 'buy' from 'neutral' and lifted his earnings estimates. His price target for the stock (Ticker: GCO) is $72, leaving about 20 percent of upside.
Shares of Genesco are getting a boost today thanks to C.L. King analyst Steven Marotta, who has hiked his rating on the Nashville-based company to 'strong buy' from 'buy.' As of 11:10 a.m., Genesco (Ticker: GCO) was up almost 5 percent to $60.65. The shares are still down about 20 percent year to date, though.
Brookdale Senior Living stock is headed in the other direction today, thanks to Kevin Fischbeck at Bank of America Merrill Lynch's downgrade of the company to 'neutral.' Fischbeck's call comes a day after Brian Tanquilut at Jefferies trimmed his price target for Brookdale to $40 from $44. Late this morning, Brookdale (Ticker: BKD) was trading at $23 and change.
And lastly, Roger Read at Wells Fargo has grown more constructive on several parts of the energy sector. That led him to lift his ratings this week on Delek US Holdings and other oil refiners to 'outperform' from 'market perform.' Delek shares (Ticker: DK) are up slightly Thursday to about $27.50 and are flat year to date.
Analysts at Zacks Investment Research have hiked their rating on shares of Pinnacle Financial Partners. They now rate the Nashville-based bank holding company a 'buy' instead of a 'hold' and see the shares climbing to $59 in the coming quarters. Pinnacle (Ticker: PNFP) ended last week at $53.10.
At Macquarie, Laurent Vasilescu and Stephanie Wakeham have begun covering shares of apparel retailer Genesco with a 'neutral' rating that balances the strong performance at the company's Journeys brand with the struggles of its Lids concept. Their target for Genesco (Ticker: GCO) is $69, about 10 percent higher than where the stock finished Friday's session.
Piper Jaffray analyst Erinn Murphy weighed in this week with some thoughts on Genesco's recent disappointing earnings report and the outlook for the retailer's shares. She says investors will need to be patient for a while and that this year's holiday shopping season will provide an important read on how Genesco CEO Bob Dennis and his team have done cleaning up the inventory at their Lids division. Without a near-term catalyst, Murphy has trimmed her EPS forecast and lowered her price target for Genesco to $67 from $69. The stock (Ticker: GCO) is changing hands this morning at $67.16.
Analyst Taposh Bari at Goldman Sachs has cut his rating on shares of Nashville-based Genesco to 'sell from 'neutral' after the company reported its first-quarter numbers. He sees the stock (Ticker: GCO), which was up about 1 percent to $67.33 Thursday afternoon, falling to $57 in the coming year.
Over at UBS, Michael Lasser says things are setting up for Dollar General to have a really good run in the coming quarters as its investments in labor and back-end operations begin to pay off. He has ticked his target for Dollar General (Ticker: DG) to $85 from $84. The stock is changing hands this afternoon at about $75.60.
Jefferies analyst Edward Plank has reiterated his 'hold' rating on shares of Genesco after the retailer's first-quarter earnings report. But Plank also his trimmed his price target for the Nashville-based seller of shoes and hats to $67 from $69. Genesco (Ticker: GCO) closed Monday's session at $65.27 and is down 15 percent so far this year.
POSTDATA: WARRANTY DEEDS