Morgan Stanley analyst Alex Straton lowered the firm’s price target on Macy’s to $17 from $18 and keeps an Equal Weight rating on the shares. Though Macy’s beat Q2 EPS expectations and reiterated fiscal year EPS guidance, this “result was lower-quality” and “seemingly diminished” market conviction in strategy execution, the analyst tells investors. The firm suspects that may remain the case until about mid-2025, the analyst added.
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