Baird has downgraded specialty retailer Genesco Inc. to Neutral citing that its thesis on the company has changed. Baird substantially reduced Genesco's price target to $53, down from its previous target of $80.The company was disappointed to step aside from Genesco post Q2 earnings, which saw its stock fall off a cliff, down 32 percent on the week."We are highly disappointed to be stepping aside on GCO, particularly since our positive view related to the multi-year Lids recovery is intact. However, the stunning comps falloff at Journeys provides too many uncertainties related to the timing and shape of a recovery," Baird said in an analyst noted released Friday.Source