Macy's recommended ahead of Q4 report at Buckingham Buckingham recommends investors buy Macy's ahead of the Q4 report on Tuesday. The firm views valuation as favorable and does not expect weather to have a material impact on EPS but acknowledges January trends could miss. The firm dos not expect management to revise full year guidance and expects positive momentum to continue from the favorable Holiday season. Shares are Buy rated with a $68 price target.
J.C. Penney downgraded to Sell from Neutral at UBS UBS downgraded its rating on J.C. Penney (JCP) shares to Sell saying the company's 2017 EBITDA target of $1.2B is overly optimistic as it assumes years of market share gains against strong competitors like Macy's (M) and Kohl's (KSS). UBS halved its price target for Penney shares to $5 from $10. The retailer's stock closed Friday down 52c to $7.12.