B. Riley Securities Downgrades Genesco to Neutral, Lowers Price Target to $31
Portfolio Pulse from Benzinga Newsdesk
B. Riley Securities analyst Jeff Lick downgraded Genesco (NYSE:GCO) from Buy to Neutral and reduced the price target from $43 to $31, indicating a more cautious outlook on the company's stock.
March 05, 2024 | 10:55 am
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Genesco's downgrade from Buy to Neutral by B. Riley Securities and the reduction in price target from $43 to $31 suggests a bearish outlook on the stock.
The downgrade by a prominent analyst, coupled with a significant reduction in the price target, typically signals a bearish outlook on the stock. This could lead to short-term negative sentiment among investors, potentially impacting the stock's price negatively.
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