Macy’s price target lowered to $9 from $10 at UBS

UBS lowered the firm’s price target on Macy’s (M) to $9 from $10 and keeps a Sell rating on the shares. Macy’s continues to challenges vs. peers around price, product, and service, and its initiatives to stop share loss likely won’t be enough to change the trend, the analyst tells investors in a research note. The firm expects EPS misses to continue and for sentiment to weaken, driving the share price lower.