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. 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. 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.

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This article is originally published at Insider Monkey.