UBS lowered the firm’s price target on Macy’s (M) to $8 from $9 and keeps a Sell rating on the shares. The firm thinks Macy’s will continue to lose market share amid challenges vs. peers around price, product, and service, with the Q4 report increasing conviction in this view, the analyst tells investors in a research note. UBS sees more downward EPS consensus revisions over the near-term, causing the stock to move lower.
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