Truist Raises Genesco Inc. (GCO)'s Price Target by $2
A model wearing the newest apparel and accessories from the company, showcasing their up-to-date fashion sense.
This comes after Genesco Inc. (NYSE:GCO) reported strong first-quarter results and maintained its full-year profits per share target, despite the company's current tariff implications. Investors can take confidence from its Journeys brand's excellent momentum.
The company listed a few difficulties, such as select price increases that are expected later in the year and possible impacts on the gross margin from sourcing and efficiency initiatives.
The way that customers will react to these changes is unclear, though. Although Truist is upbeat about the Journeys brand's development, it is nonetheless wary of the macroeconomic conditions and potential changes in consumer demand.
While we acknowledge the potential of GCO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 10 High-Growth EV Stocks to Invest In and 13 Best Car Stocks to Buy in 2025.
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And earlier this year the BLS said that it was cutting back on its collection of inflation data because of the Trump administration's hiring freeze, raising concerns about the robustness of price data just as economists are trying to gauge the impact of tariffs on inflation. U.S. government statistical agencies have seen an inflation-adjusted 16% drop in funding since 2009, according to a July report from the American Statistical Association. 'We are at an inflection point,' the report said. 'To meet current and future challenges requires thoughtful, well-planned investment … In contrast, what we have observed is uncoordinated and unplanned reductions with no visible plan for the future.
