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Fly News Breaks for March 15, 2018
GCO
Mar 15, 2018 | 14:49 EDT
As previously reported, Pivotal Research analyst Mitch Kummetz downgraded Genesco to Hold from Buy, stating that he was disappointed by the company's FY19 outlook, as he had believed FY19 was going to be a year of modest EBIT recovery. Migration for stores to digital is an ongoing issue and Kummetz lacks confidence in Genesco's ability to drive margin back up to "normal" levels, he tells investors. He lowered his price target on Genesco shares to $41 from $46.
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