Macy's off to strong start in Q2, says Wells Fargo Wells Fargo believes that Macy's reported weak Q1 comps, but the firm thinks the company's sales in the first ten days of May were up low double digits. Wells Fargo predicts that the company's Q2 results will be positive for the stock. The firm keeps an Outperform rating on the shares.
On The Fly: Analyst Upgrade Summary Today's noteworthy upgrades include: Bemis (BMS) upgraded to Buy from Neutral at BofA/Merrill... Gigamon (GIMO) upgraded to Outperform from Market Perform at William... Global Payments (GPN) upgraded to Overweight from Equal-Weight at First Analysis... Knight Transportation (KNX) upgraded on valuation, catalysts at Stifel... Macy's (M) upgraded to Buy from Neutral at Buckingham... Netflix (NFLX) upgraded to Buy from Neutral at Citigroup... Reckitt Benckiser (RBGLY) upgraded to Buy from Neutral at UBS... Union Pacific (UNP) upgraded on valuation, growth outlook at Stifel... Weatherford (WFT) upgraded to Outperform from Sector Perform at RBC Capital.