Macy's upgraded to Buy from Neutral at Goldman Goldman upgraded Macy's based on the improved macro backdrop, benefits from inventory planning and allocation, share gains, and attractive valuation. Price target raised to $65 from $54.
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.