On December 30, Mike Hickey from Benchmark Co. reiterated a Buy rating on Macy's, Inc. (NYSE:M) stock. No price target was disclosed in this update.
Earlier, on December 5, analysts at Evercore ISI maintained a Hold rating on the stock. They raised their price target for Macy's from $14 to $21.
These analyst actions follow the company's fiscal third-quarter 2026 earnings announcement on December 3. The quarterly revenue was reported at $4.71 billion. This figure represents a slight year-over-year decrease of 0.61%. However, it surpassed analyst estimates by $154.53 million.
The earnings per share (EPS) for the quarter was $0.09. This result also exceeded expectations by $0.22. Company management stated that the net sales performance exceeded their own guidance range.
Macy's reported that its third-quarter sales were the strongest seen in 13 quarters. The company attributed this performance to its "bold new chapter" strategy.
Evercore ISI described the quarter as robust. The firm also expressed disappointment regarding Macy's fourth-quarter same-store sales target. The company expects growth in this metric to range from -2.5% to flat.
Evercore ISI believes Macy's needs to achieve same-store sales growth of at least 2% to 3%. This growth is seen as necessary as the company rolls out its "Reimagine 125" initiatives to more stores starting in 2026.
Macy's, Inc. operates as an omnichannel retailer. It manages three brands: Macy's, Bloomingdale's, and Bluemercury. These brands sell merchandise including accessories, apparel, consumer goods, and home furnishings.