Watching Macy's; Jefferies Out With Note Saying "Co Has Received More Buyout Interest, From PE Firm Sycamore Partners. We Continue To See A Fair Value Range Of $25-$32 While Our 1-Year Upside PT Remains $27"
Portfolio Pulse from Benzinga Newsdesk
Jefferies reports that Macy's has received additional buyout interest from private equity firm Sycamore Partners. Jefferies maintains a fair value range for Macy's stock at $25-$32 and reiterates a 1-year price target of $27.
December 18, 2023 | 3:43 pm
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Macy's has garnered additional buyout interest from Sycamore Partners, according to Jefferies, which could potentially lead to a buyout offer. Jefferies maintains a fair value range of $25-$32 for Macy's stock and a 1-year price target of $27.
The news of additional buyout interest from a private equity firm typically generates positive sentiment among investors, as it suggests potential for a premium on the current stock price. Jefferies' maintained fair value range and price target provide further support for the stock, indicating a belief in its underlying value. This could lead to increased investor confidence and a potential short-term rise in the stock price.
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