Macy’s price target lowered to $14 from $15 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Macy’s (M) to $14 from $15 and keeps an Equal Weight rating on the shares. The firm says that while the company’s Q4 earnings exceeded Street expectations, its guidance fell short. It fears “even this may not be sufficiently de-risked.” Macy’s “still-weak” fundamentals, a challenged retail backdrop, and “choppy” quarterly results ahead mean late 2025 is likely the earliest Morgan Stanley could gain further conviction into a turnaround, the analyst tells investors in a research note.