Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Bear on Wall Street: Macys Inc (M)

|Includes: Macy's Inc. (M)

Citigroup added Macys ($15.78) to its retail sector top picks.

Up-Coming Catalysts:
1. Raising of 4Q09 EPS guidance depending on how sales come in.
2. 2010 outlook on 2/23/10

Valuation:
1.(NYSE:M) currently trades at a 9.2 forward P/E, average multiple for department stores is 13.3.
2. 10-year historical range is 6.1-22.8, currently trading towards the lower end.
3. Department store average EBITDA is 6.2, (M) trading at 4.6.

Price Target:
$30

DISCLOSURE – No position



Disclosure: No Position