Macy’s price target lowered to $15 from $17 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Macy’s (M) to $15 from $17 and keeps a Market Perform rating on the shares. Following a strong Q4, trends in Q1 have slowed, with pressure is expected to persist in Q1 and the rest of the year, the analyst tells investors. Additionally, tariffs should not affect inventories until later in the year as a result of recent inventory management, the firm adds.