Macy’s price target raised to $22 from $16.50 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Macy’s (M) to $22 from $16.50 and keeps a Neutral rating on the shares. The company delivered a “broad-based” Q3 beat and raised its guidance for FY25, the analyst tells investors. The firm steps away from this quarter “encouraged” by the sequential improvement in the business and believes continued positive comp growth will be key to driving stock outperformance.