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Fly News Breaks for July 20, 2015
M
Jul 20, 2015 | 08:08 EDT
BofA/Merrill raised Macy's price target to $78 from $68 based on the increased likelihood of real estate monetization. The firm's analyst believes Macy's can structure a deal that allows it to maintain control of its real estate and Starboard's activist stake and a challenging fundamental backdrop could add further motivation to purse a deal. BofA/Merrill has a Neutral rating on shares.
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