Macy’s price target raised to $16 from $12 at JPMorgan

JPMorgan analyst Matthew Boss raised the firm’s price target on Macy’s (M) to $16 from $12 and keeps a Neutral rating on the shares. The firm adjusted price targets in the department store and specialty softline group ahead of the Q2 reports. JPMorgan’s fieldwork indicates a strong close to the quarter on a July consumer acceleration, the analyst tells investors in a research note.