Ashley Helgans, an analyst from Jefferies, maintained the Buy rating on Macy’s. The associated price target is $18.50.
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Ashley Helgans has given his Buy rating due to a combination of factors that suggest Macy’s is positioned for growth despite current market uncertainties. The resilience of Macy’s consumer base, particularly those with higher household incomes, has been a positive indicator, as these customers continue to seek quality and are less impacted by economic fluctuations. The company’s strategic initiatives, including improvements in store experience and local management empowerment, have contributed to a record high Net Promoter Score, indicating strong customer satisfaction.
Furthermore, Macy’s has shown momentum with strong performance in July and August, particularly in its Bloomingdale’s segment, which has been gaining market share. The company’s cautious approach to pricing and tariffs, alongside its reinvestment strategies, supports a balanced path towards profitability. Despite potential risks in the second half of the fiscal year, the company’s prudent guidance and strategic positioning provide a solid foundation for future growth, justifying the Buy rating.
In another report released on August 19, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $15.00 price target.