Deutsche Bank Reiterates Buy On Macy’s Shares, $64 PT

In a research report issued today, Deutsche Bank analyst Paul Trussell reiterated a Buy rating on Macy’s (NYSE:M) with a price target of $64.00.

Trussell wrote, “We believe Macy’s top-line has continued to be challenged this quarter and are lowering our 3Q SSS estimates by 150 bps to 0.7%. The reduction takes our earnings view below the Street and we now believe that M’s FY EPS guidance will potentially be lowered by $0.05-$0.10. While M did not specifically give 3Q SSS guidance, we believe the 2.0%-3.0% 2H view will be difficult to attain with just a ‘flattish to +1%’ comp in 3Q. While recognizing NT challenges due to competition and lackluster apparel trends, we believe M remains well-positioned for the Holiday, combining with well-managed margins, and buybacks that equates to EPS Growth greater than its current forward multiple.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Paul Trussell has a total average return of 12.0% and a 76.4% success rate. Trussell has a 16.1% average return when recommending M, and is ranked #234 out of 3347 analysts.

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