Macy’s price target raised to $21 from $14 at Evercore ISI

Evercore ISI analyst Michael Binetti raised the firm’s price target on Macy’s (M) to $21 from $14 and keeps an In Line rating on the shares. “Solid” Q3 results suggest “a promising holiday season ahead” from Macy’s, the analyst tells investors in a post-earnings note. Guidance for Q4 same-store sales ranging from down 2.5% to flat is “conservative” and early indications from November suggest performance “might exceed these cautious projections,” the analyst added.