Morgan Stanley Downgrades Macy's To Equal-weight

Analysts at Morgan Stanley downgraded

from Overweight to Equal-weight. The price target for Macy's is set to $70. Macy's shares have gained 23.51% over the past 52 weeks, while the S&P 500 index has surged 15.12% in the same period. Macy's shares dropped 1.79% to close at $64.89 yesterday.