Macy’s price target raised to $15 from $14 at Telsey Advisory

Telsey Advisory analyst Dana Telsey raised the firm’s price target on Macy’s to $15 from $14 and keeps a Market Perform rating on the shares. The firm increasing its estimates for FY23 given the Q3 performance, the revised outlook for the rest of the year and the company’s positioning heading into the important holiday period. While Telsey sees the potential for Macy’s to be “a relative winner,” this is against what the firm expects to be “a more challenging group.”