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Non-Tech : Genesco (GCO) -- Ignore unavailable to you. Want to Upgrade?

To: David Alan Cook who wrote (62)	11/17/2000 7:23:46 PM
From: David Alan Cook	Read Replies (1) \| Respond to of 66

NEW YORK, Nov 17 (Reuters) - Goldman Sachs said on Friday it raised its 12-month stock price target on footwear retailer Genesco Inc. (NYSE: GCO) to $25 from $20, and reiterated its investment rating of "market outperformer" on the stock. Goldman analyst Margaret Mager also raised earnings estimates for Genesco to $1.40 from $1.37 for fiscal 2001 and to $1.65 from $1.56 in fiscal 2002. This represents the seventh consecutive quarter they have raised estimates for Genesco, Mager said in a research note. "Genesco now trades at 12.5 times our new fiscal 2002 estimate of $1.65, a compelling valuation, in our view, given the strong business momentum and opportunity for future growth," Mager said. Shares of Genesco closed at $20-9/16 in Thursday's New York Stock Exchange trading. The stock's 52-week range is between $8-1/4 and $21-1/16. "We see limited competition for Journeys teen footwear. Management is rolling out the Underground Station concept, which is now performing well after some fine tuning," Mager said. DC