Pivotal Research analyst Mitch Kummetz upgraded Genesco to Buy from Hold and raised his price target for the shares to $48 from $40. Following the company's Q2 beat and guidance increase, the analyst sees an improved fiscal 2021 setup and a "favorable" valuation. He believes Journeys' same-store-sales could remain "positive for a while" and come in better than expected. Further, Kummetz likes how Genesco's fiscal 2021 earnings sets up on share buybacks and the expected reduction of stranded and other costs. In addition, the stock is "too cheap" at a 20% discount to the peer group, the analyst tells investors in a research note.