Expecting Good Holiday Sales Data, Vetr Crowd Upgrades Macy's
On Wednesday, the Vetr crowd upgraded their rating for Macy's Inc (NYSE: M) from 3 stars (Hold), issued last Wednesday, to 4 stars (Buy). Sentiment among the crowd is edging on the cautious side with 57 percent of user ratings bearish.
After opening on Black Friday at a 2016 high of $45.25, Macy's has been on a steady downward trend. The stock traded recently around $42.14.
Despite initial high retail expectations for this year's Black Friday, most analyst ratings for many of the major retailers remain mixed.
Currently, the Vetr crowd's average target price for Macy's is $46.08, well above the average analyst target price of $42.75 Less than 2 percent of Vetr users are holding M in their watch lists.
Latest Ratings for M
|Feb 2017||Atlantic Equities||Upgrades||Neutral||Overweight|
|Feb 2017||Susquehanna||Initiates Coverage On||Neutral|
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