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Fly News Breaks for February 6, 2020
M
Feb 6, 2020 | 08:33 EDT
Cowen analyst Oliver Chen said he is encouraged by Macy's new comprehensive comeback plan which includes the closing of 125 stores, supply chain centralization, new store ecosystem model, and its digital/loyalty innovation. He thinks Macy's remains a show me story but the company has set itself up nicely by outlining achievable targets. Chen maintained his Market Perform rating and raised his price target to $18 from $16 on Macy's shares.
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