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M

Macy's

$15.15

0.04 (0.26%)

08:53
12/07/19
12/07
08:53
12/07/19
08:53

Barron's skeptical on Macy's shares into the holiday season

The turnaround at Macy's should be doubted until management offers much more evidence, writes Jack Hough of Barron's. The retailer's credit-card business now earns more than its stores, and further operating income declines are expected next year, and the year after, Hough points out. In addition, while Macy's generates enough cash to cover its dividend, management could come under pressure to cut payouts within two years if the company's cash flow continues shrinking at its present pace, he contends in a story titled "Macy's Stock Shouldn't Expect a Miracle on 34th This Holiday Season." Reference Link

M Macy's
$15.15

0.04 (0.26%)

11/14/19
GUGG
11/14/19
NO CHANGE
Target $66
GUGG
Buy
Guggenheim raises price targets on off-price retailers TJX, Ross Stores
Guggenheim analyst Robert Drbul said the off-price sector remains one of his favorites in U.S. retail and he believes the environment will be supportive this holiday and in 2020 based on the inventory imbalance he sees in the marketplace today, which should create a product/buying environment that supports continued revenue gains. He predicts a return to postive double digit percentage earnings growth in 2020 and raised his price target on TJX (TJX) shares to $66 from $60 and his price target for Ross Stores (ROST) to $125 from $120. He has Buy ratings on both stocks. Elsewhere in the group, he keeps Neutral ratings on Burlington Stores (BURL), Nordstrom (JWN) and Macy's (M).
11/20/19
FBCO
11/20/19
NO CHANGE
Target $48
FBCO
Neutral
Kohl's price target lowered to $48 from $51 at Credit Suisse
Credit Suisse analyst Michael Binetti lowered his price target for Kohl's (KSS) to $48 from $51 following the company's Q3 results, saying he thought Kohl's would fare better than weaker industry trends considering a meaningful number of new initiatives, and says he was "disappointed" in the company's Q3 SSS miss. Binetti tells investors in a research note to investors that he sees incremental risk for Macy's (M) and Nordstrom (JWN) this week, adding that he doesn't see much change to concerns that without an external catalyst, underlying industry trends in softlines categories remain lackluster.
11/21/19
BOFA
11/21/19
NO CHANGE
Target $12
BOFA
Underperform
Macy's price target lowered to $12 from $14 at BofA/Merrill
BofA Merrill Lynch analyst Lorraine Hutchinson noted that after a "disappointing" third quarter, Macy's cut its fiscal-year outlook, estimating that the company's guidance implies Q4 comp sales being down 1.5% to 3%. She previously worried that the company's second half outlook was too optimistic and now thinks it looks more achievable, but sees a shift in the risk to FY20, during which she believes it will be challenging for Macy's to return to profitable growth. Hutchinson reiterates an Underperform rating on Macy's shares and lowered her price target on the stock to $12 from $14.
11/22/19
DBAB
11/22/19
NO CHANGE
Target $18
DBAB
Hold
Macy's price target lowered to $18 from $22 at Deutsche Bank
Deutsche Bank analyst Paul Trussell lowered his price target for Macy's to $18 from $22 and keeps a Hold rating on the shares. The analyst remains cautious around the department stores and specialty retail following the Q3 earnings season.

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TBLT

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MYO

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ECA

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, BT

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