Citi issues a Sell on Macy's today. They are never right about much of anything
Go back and look at my comment history. I have warned if stock hits $10, you need to load up. Company is profitable and not going BK, which was all over this board just over a month ago.
Today we are over 20 . Why? Because the stock is ridiculously cheap again.
Private Equity and asset managers buy up everthing in this country.
Check out the book called 12 if you want to see how Private equity is buying up America. ....vet hospitals, most all doc practices, hair salons, farmland. You name it, they are buying and once private, financial reporting all but disappears to everyone but themselves.
Anyway, Macy's could trend higher in the next week even from here as the rumor mill of a higher offer will start to make the rounds again.
I find little info on this board lately, so I will check back in January. Hold fast. We will see mid 20's in all likelihood by March - June of next year. I think the stock could see 30's again if we see 10 year Treasury back at 3.75% and margins and easy comps start to play out.
I am looking for my next Macy's and have found a few. Good luck and Merry Xmas[Miser][Miser][Miser]
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