Citi Cuts Macy's (M), Nordstrom (JWN), Saks (SKS) to Neutral

An analyst at Citi downgraded a number of stocks in the Retail sector Wednesday morning, each from Buy to Neutral:

• Macy's (NYSE: M) - price target lowered from $49 to $39
  
• Nordstrom (NYSE: JWN) - price target lowered from $63 to $52
  
• Saks (NYSE: SKS) - price target lowered from $14 to $11

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