Macy’s (NYSE:M) had its price target reduced by CFRA from $4.00 to $3.00 in a research report released on Thursday, Benzinga reports. They currently have a sell rating on the stock. On the other hand, CFRA had previously issued a HOLD target for NYSE:M stock with a price of $15. This happened just 3 months ago. Looks like those experts do not know what is going to happen just around the corner, let alone 3 months later.
Anyways, those same expert do weigh on the price of stocks and we might expect a rough ride ahead for Macy’s (NYSE:M) stock.
BofA Securities reiterated a market perform rating and issued a $4.50 price objective on shares of Macy’s in a report on Friday, May 22nd.
Deutsche Bank maintained a HOLD on M stock and a price target of $5.00
Macy’s Inc (NYSE: M) lost additional 3% on Friday and closed at $5.21.