Analysts: Macy’s Is a Buy Based on October Trends and 3 More Research Notes to Peruse
Macy’s Inc. (NYSE:M): Buckingham recommends buying Macy’s ahead of the third-quarter report based on a favorable risk/reward scenario and improved October trends, benefiting from better weather and consumer sentiment; the firm rates Macy’s shares a Buy, with a $52 price target.
Deere & Co. (NYSE:DE): Bank of America Merrill Lynch downgraded Deere to Neutral from Buy; the firm is more cautious on long-term agricultural industry demand due to continued falling corn prices, less confidence that Section 179 of the tax code will be extended, and a lack of a margin recovery in construction equipment. The firm lowered its price target on Deere to $89 from $95.
Abercrombie & Fitch Co. (NYSE:ANF): Susquehanna lowered its price target on Abercrombie & Fitch to $43 from $48 following its disappointing outlook for 2013; the firm noted near-term problems but believes Abercrombie & Fitch has multiple levers to drive performance and earnings power and rates the shares Positive.
WebMD Health Corp. (NASDAQ:WBMD): Stifel believes that the weakness in WebMD’s stock since the company’s third-quarter results doesn’t reflect its strong fundamentals; the firm expects WebMD to have strong ad momentum in the fourth quarter and during the fiscal year 2014, and the analyst raised its price target on the shares to $43 from $40, keeping a Buy rating on the stock.
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