Nomura Securities Starts Macy's (M) at Buy

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Nomura Securities initiates coverage on Macy's (NYSE: M) with a Buy. PT $38.00.

Nomura analyst, Paul Lejuez, said, "Macy’s is in a unique spot, well-positioned to capture market share and achieve higher EBIT margins, in our view. After years of playing defense, the company is just beginning to operate its business strategically. With its current momentum and what we view as depressed productivity/margins, we expect continued upside to estimates."

For more ratings news on Macy's click here and for the rating history of Macys click here.

Shares of Macy's closed at $30.56 yesterday, with a 52 week range of $21.69-$31.37.

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