Telsey Advisory Group Maintains Market Perform Rating for Macy's: Here's What You Need To Know

Telsey Advisory Group has decided to maintain its Market Perform rating of Macy's M and raise its price target from $14.00 to $15.00.

Shares of Macy's are trading up 1.58% over the last 24 hours, at $13.54 per share.

A move to $15.00 would account for a 10.78% increase from the current share price.

About Macy's

Founded in 1858 and based in New York City, Macy's operates about 550 stores under the Macy's nameplate, nearly 60 stores under the Bloomingdale's (full-price and outlet) and Bloomie's nameplates, and 158 freestanding Bluemercury specialty beauty stores. Macy's also operates e-commerce sites and licenses two Bloomingdale's stores in the United Arab Emirates and Kuwait. Women's apparel, accessories, shoes, cosmetics, and fragrances composed 61% of Macy's 2022 sales.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.