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Macy's: Still Looking For A Bigger Bid

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  • Macy's has a buyout bid of $24 per share, up from the original offer of $21.
  • The real estate value of Macy's is estimated to be worth double the current stock price.
  • Macy's plans to focus on luxury stores and close underperforming locations while expanding the Bluemercury beauty brand.
  • Macy's stock only trades at 7x EPS targets that appear conservative.
  • Looking for a portfolio of ideas like this one? Members of Out Fox The Street get exclusive access to our subscriber-only portfolios. Learn More »
The retail sector has faced a tough time since the economy reopened after Covid shutdowns, which led to consumers turning attention towards experiences and travel. Macy's (NYSE:M) still reported solid results in 2023, and along with a potential buyout bid, the stock should trade much higher. My investment thesis remains Bullish on the stock, even after the large bounce off the 2023 lows.

Read the full article on Seeking Alpha. 

Disclosure: Long M. Please review the declaimer page for more details. 

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