Macy’s (NYSE:M) reported better-than-expected third-quarter results yesterday, which received mixed reactions from Wall Street analysts. Since the release, two analysts have rated M stock as a Buy, two have given it a Hold, and one analyst has assigned a Sell rating.
Macy’s is a retail chain known for its diverse range of fashion, accessories, and home goods.
Analyst Oliver Chen from TD Cowen’s Buy rating centers on Macy’s growth potential, fueled by new store formats, personalized strategies, and consistently strong inventory management. Chen remains optimistic about the company’s Q4 outlook, specifically in sectors like beauty and gifting, along with sufficient inventory levels.
Furthermore, Top-rated analyst Robert Drbul from Guggenheim maintained a neutral stance on M stock. The analyst noted that the weakness in Macy’s credit card revenues was due to higher bad debt assumptions.
Is Macy’s Stock a Buy or Sell?
Wall Street analysts are sidelined on Macy’s stock. It has a Hold consensus rating based on five Buys, eight Holds, and two Sells. The average price target of $14.46 implies 8.5% upside potential. The stock has declined 31.5% year-to-date.
