Macy's (NYSE: M) Price Target Boosted by Gordon Haskett on Strong Q1 Results

Font: Financial Modeling Prep  • Jun 03, 2026

• Analyst Chuck Grom of Gordon Haskett Capital Corporation raised the price target for Macy's to $22.00, indicating positive sentiment for the department store retailer.
• Macy's surpassed Q1 expectations with adjusted earnings per share of $0.13 and net sales of $4.68 billion, showcasing strong financial performance.
• The company's turnaround strategy is yielding results, with comparable sales up 3.0% and a raised full-year adjusted EPS outlook of $2.00 to $2.20, reflecting growing investor confidence.

Analyst Chuck Grom of Gordon Haskett Capital Corporation raises the price target for Macy's (NYSE: M) to $22.00, an increase from the previous target of $20.00. Macy's, a prominent department store retailer, also operates Bloomingdale's and Bluemercury. At the time of the new target, Macy's stock price was $21.80 per share.

This positive revision follows a strong first quarter where Macy's beat Wall Street's expectations. The company reported adjusted earnings per share (EPS) of $0.13, significantly higher than the $0.03 analysts estimated. Net sales also came in above forecasts, totaling $4.68 billion against an expected $4.61 billion, highlighting robust financial performance.

The company's turnaround strategy appears to be working effectively. As highlighted by The Wall Street Journal, shoppers are spending more as Macy's introduces higher-end products. This positive trend is seen across its main brands, including Bloomingdale's and Bluemercury, where customers are actively purchasing these new items, contributing to overall retail sector growth.

This increased consumer spending drove a 3.0% rise in comparable sales, a key retail metric measuring sales at stores open for at least one year. This marks Macy's strongest first-quarter growth in four years. Specifically, Bloomingdale’s saw a 10.2% increase, Bluemercury climbed 6.4%, and the Macy’s banner itself rose 1.6%, demonstrating strong brand performance.

Due to this strong financial performance, Macy's raised its full-year outlook. The company now expects adjusted earnings per share (EPS) to be between $2.00 and $2.20. The stock has gained 10% in the past month and a significant 91.4% over the last twelve months, reflecting robust investor confidence in the company's future prospects.