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Macy's Upgraded at Deutsche Bank

Shares of Macy's were higher Monday after Deutsche Bank upgraded its rating on the shares to BUY from HOLD.

Shares of Macy's (M) - Get Report were higher Monday after Deutsche Bank upgraded its rating on the shares to BUY from HOLD. The firm also increased its price target to $45 from $40. Analysts with Deutsche Bank say that investors are underestimating the retailer's recovery potential. They believe that Macy's remains conservative on apparel same-store sales and real estate, which the analysts say could provide further upside. They also believe that Macy's should regain earnings momentum before its competition does.

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