UPDATE: Sterne Agee Raises Price Target on Genesco to $80

According to Sterne Agee, Genesco

price target is raised to $80. Sterne Agee said that it is raising its FY13 revenue estimate from $2.551B to $2.568B, reflecting sales/store for the converted stored to increase by ~$110K to $700K. “We believe our estimate will prove conservative as Journey's stores had sales/store of $791K in FY11.” Genesco closed yesterday at $64.81.