UBS reiterated its Sell rating for Macy's on March 9, 2026. The investment bank acknowledged that channel checks indicated stronger-than-expected fourth-quarter sales. UBS expects the retailer's upcoming earnings guidance to align with current Wall Street forecasts.
The bank maintained its negative stance on the stock despite the improved sales data. UBS raised its price target to $9. This valuation signals a belief in limited future upside for the company's shares.
Macy's shares experienced volatility and downward pressure following the report. The decision underscores persistent bearish sentiment from parts of Wall Street toward the retailer's long-term prospects.