Macy’s, Inc. (M) Upgraded To Buy; Price Target Raised

Soleil Securities has upgraded Macy’s Inc. (NYSE: M) from a Hold to a Buy rating. The price target for the Macy’s, Inc. stock has been raised from $19 o $28.

The rating upgrade and increase in the price target come on the back of improving sales at the company. Soleil has also increased the EPS estimates for this year, and next to $1.75, and $2.05, respectively.

The company’s monthly sales have exceeded plans for 3 consecutive months as industry trends improve. Soleil expects the company’s share price to go higher.