Expectations High Heading into Macy's (M) Q1 Print

May 13, 2013 1:01 PM EDT
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Price: $29.45 --0%

Rating Summary:
    8 Buy, 20 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 28 | Down: 28 | New: 23
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Deutsche Bank today maintained a Buy rating on Macy's (NYSE: M) with a modified price target of $53.00 (from $47.00). Analysts noted high expectations heading into Macy's Q1 report.

"Expectations at Macy's are somewhat elevated heading into the 1Q13 print on May 15, as the stock is up close to 20% YTD and with investors looking for 1Q SSS of 3.5%-4.0%. In our view, the shares represent a mixed bag at current levels, with sales potentially coming in at the high-end of expectations, while margins may have been pressured by promo spend and free shipping. Despite the tough set-up, we remain constructive on the shares and are buyers on any pullback, as Macy's is one of the better operators among its peers," said analysts.

For an analyst ratings summary and ratings history on Macy's click here. For more ratings news on Macy's click here.

Shares of Macy's closed at $47.23 yesterday.

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