TD Cowen Downgrades Macy's to Market Perform, Lowers Price Target to $20
Portfolio Pulse from Benzinga Newsdesk
TD Cowen analyst Adam Maeder has downgraded Macy's (NYSE:M) from Outperform to Market Perform and reduced the price target from $23 to $20.
February 29, 2024 | 12:18 pm
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Macy's downgraded by TD Cowen from Outperform to Market Perform with a price target reduction from $23 to $20.
The downgrade by TD Cowen from Outperform to Market Perform, along with a reduction in the price target, suggests a less optimistic outlook on Macy's future stock performance. This could lead to a negative short-term impact on Macy's stock price as investors adjust their expectations based on this new analyst rating.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100