NEW YORK (TheStreet) -- TheStreet's Jim Cramer says Macy's (M) department stores have been on fire since Valentine's Day, but hedge funds continue to bet against CEO Terry Lundgren, one of Cramer's "Bankable CEOs."
Lundgren has delivered repeatedly and Cramer believes Macy's stock could soar through the $60 range now that weather has begun to improve in much of the U.S. Cramer trimmed his position on Macy's in his Action Alerts PLUS portfolio because it became too big, but he calls Lundgren "totally bankable" and wants to own Macy's on any pullback to $55 a share.
Separately, TheStreet Ratings team rates MACY'S INC as a "buy" with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate MACY'S INC (M) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, increase in net income, notable return on equity and expanding profit margins. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."
Highlights from the analysis by TheStreet Ratings Team goes as follows: