Deutsche Bank Raises PT on Macy's

Deutsche Bank today reiterated a Buy rating on Macy's (NYSE: M) and raised its price target of $47.00 (from $43.00).

Analyst Paul Trussell said, "The department store sector remains bifurcated with higher income focused retailers driving solid sales gains aided by strong e-commerce platforms, while mid-tier stores experience weak traffic & margin pressure as off-price players eat into share. Turnarounds for the latter seem more hopeful than realistic in the NT and we believe investors are better positioned in high quality growth names. Macy's fits the bill."

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 $40.68 yesterday.

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