Macy’s: Strong Performance Overshadowed by Valuation Concerns
BTIG analyst Robert Drbul maintains a Hold rating on Macy's stock, citing strong performance but valuation concerns. Macy's has exceeded expectations in revenue and earnings for three consecutive quarters, benefiting from its multi-brand strategy. However, the stock's current valuation, with a P/E ratio of 10.5 times the 2026 EPS estimate, is higher than its historical average. Drbul advises waiting for a better entry point. Telsey Advisory also maintains a Hold rating with a $25 price target.
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