Macy's upgraded to Buy from Neutral at Citigroup Citigroup upgraded Macy's on expectations the company is positioned for accelerating comp growth in 2013. The firm raised its price target for shares to $46 from $38.
Macy's sales soft through mid-December, says Cleveland Research Cleveland Research said Macy's sales are tracking in the range of +1% to +2% through mid-December, vs. consensus of +2.2%. The firm said soft customer traffic trends remain the primary headwind for the quarter. Shares are Buy rated.