Bank of America Downgrades Macy's To Neutral

Analysts at Bank of America downgraded Macy's

from Buy to Neutral. The price target for Macy's is set to $65. Macy's shares have gained 22.22% over the past 52 weeks, while the S&P 500 index has surged 14.18% in the same period. Macy's shares dropped 0.89% to $61.06 in pre-market trading.