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Fly News Breaks for May 17, 2018
M
May 17, 2018 | 09:05 EDT
Morgan Stanley analyst Kimberly Greenberger said Macy's raised 2018 guidance rests on second half performance and she remains skeptical given the more difficult comps it will be facing, particularly in the fourth quarter of the year. Greenberger raised her 2018 EPS estimate by 12c to $3.67, but notes this is still below the company's revised $3.75-$3.95 guidance range. Following the stock's more than 10% jump yesterday on the heels of the quarterly report, Greenberger keeps an Underweight rating and $25 price target on Macy's shares.
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