Where is Macy’s Inc. (M) Headed According to Wall Street?

Macy’s Inc. (NYSE:M) is one of the most undervalued retail stocks to invest in. On September 18, Morgan Stanley raised the firm’s price target on Macy’s Inc. (NYSE:M) to $16 from $12 while keeping an Equal Weight rating on the shares.

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A female customer shopping for beauty products in a modern store.

The firm told investors that it updated its models for the company and several other retailers after their Q2 earnings.

However, in a report released on September 4, Michael Binetti from Evercore ISI maintained a Hold rating on Macy’s Inc. (NYSE:M) and set a price target of $14.00.

The same day, Telsey Advisory analyst Dana Telsey raised the firm’s price target on the stock to $17 from $14 while maintaining a Market Perform rating on the shares.

Macy’s Inc. (NYSE:M) is an omnichannel retail store that manages three brands: Macy’s, Bloomingdale’s, and Bluemercury.

These brands sell a variety of merchandise, including accessories, apparel, consumer goods, home furnishings, and more. The company operates stores in 43 US states, the District of Columbia, Guam, and Puerto Rico.

While we acknowledge the potential of M to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than M and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.