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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on M:
- Cautious Outlook for Macy’s Amid Mixed Performance Signals and Conservative Guidance
- Macy’s Reports Mixed Results, Eyes Strategic Growth
- Gordon Haskett downgrades Macy’s amid macro uncertainty
- Macy’s downgraded to Neutral from Overweight at JPMorgan
- Macy’s downgraded to Neutral at JPMorgan on pushed out path to SSS growth