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Fly News Breaks for February 22, 2017
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Feb 22, 2017 | 07:43 EDT
Citi analyst Paul Lejuez says Macy's Q4 results were a disappointment overall as earnings beat on expense management while the underlying business continues to deteriorate. The analyst, however, believes the stock's risk/reward skews positive. Macy's is ahead of peers in "right-sizing its fleet" while expectations are low and there is potential for future real estate monetization's. Lejuez keeps a Buy rating on the shares with a $39 price target.
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