- Shares of Macy's (NYSE:M) break lower after Goldmans Sachs drops the department store stock to a Sell rating after having it slotted at Neutral.
- The firm doesn't see significant upside value creation from more real estate plays.
- Goldman's price target of $12 on Macy's reps more than 20% downside potential and is below the average sell-side PT of $16.19.
- Macy's is down 2.71% in premarket action to $14.74.