Macy's stock traded slightly up at $21.98 (+0.25%) on January 13, with movement aligning with the broader market downtrend, as investors focused on the ongoing execution of the Bold New Chapter restructuring plan.
- The company continues its Bold New Chapter strategy, planning to close 14 stores this year as part of the goal to shutter 150 locations by 2026.
- Zacks assigned a Rank #1 (Strong Buy), noting the stock's undervaluation with a Forward P/E of 9.15 compared to the industry average of 15.66.
- The broader analyst consensus remains a Hold, with an average price target set at $19.89.