Macy's Inc shares rose 2.90% to $22.36 today, continuing a rally that analysts suggest leaves the stock 26.67% undervalued relative to a fair value of $24.43.
- The stock's upward momentum aligns with broader market gains following strong January jobs data, even in the absence of new company-specific announcements.
- Bullish sentiment is further bolstered by Macy's ongoing real estate sales plans, which are projected to generate between $600 million and $750 million.
- Shares previously closed at $21.73 on February 11, representing a 3.53% gain during that session.