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Research analysts at Deutsche Bank upped their target price on shares of Macy’s (NYSE:M) from $54.00 to $68.00 in a report released on Thursday, AR Network reports. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price target points to a potential upside of 21.86% from the stock’s previous close.

Macy’s (NYSE:M) last announced its earnings results on Wednesday, November 13th. The company reported $0.47 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.39 by $0.08. The company had revenue of $6.28 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter last year, the company posted $0.36 earnings per share. Macy’s's revenue was up 3.3% compared to the same quarter last year.

Several other analysts have also recently commented on the stock. Analysts at Macquarie upgraded shares of Macy’s from a “neutral” rating to an “outperform” rating in a research note to investors on Monday. They now have a $66.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Macy’s in a research note to investors on Friday, January 10th. They now have a $59.00 price target on the stock. Finally, analysts at Goldman Sachs Group Inc. upgraded shares of Macy’s from a “neutral” rating to a “buy” rating in a research note to investors on Friday, January 10th. They now have a $65.00 price target on the stock, up previously from $54.00. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $58.78.

Macy’s, Inc (NYSE:M) is a retail organization operating stores and Internet Websites under two brands (Macy’s and Bloomingdale’s) that sell a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods in 45 states, the District of Columbia, Guam and Puerto Rico.

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