Finanzas: Citi sees 27% upside on Macy’s

 

Citi upgrades Macy’s (NYSE:M) to Buy from Neutral in a timely upgrade on the department store stock.

The Citi team points to Macy’s ample free cash flow and attractive dividend yield in making its bullish call.

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«We believe the stock has support that makes the risk reward attractive at current levels, particularly considering the opportunity to improve the business in 2H16/1Q17 relative to 2H15/1Q16,» reads the Citi note.

Citi’s price target of $44 on Macy’s implies 27% upside potential. Shares of Macy’s haven’t traded over $45 this year.

Wall Street ratings scorecard on Macy’s: 7 Buys, 16 Holds, 2 Sells.

Fuente: Seeking Alpha


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