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Bullish Calls for GE and Macy's, Target Downgraded at Goldman Sachs


In Wednesday's Analysts' Actions, General Electric and Macy's get upgrades and Target is downgraded at Goldman Sachs on the lack of near-term catalysts. General Electric (GE) was upgraded at Bernstein to an 'Outperform' from 'Market Perform' and had its price target raised to $33 from $29 a share. Berstein thinks GE's 'stock has lagged, but management is cutting costs and the company is leveraged to the industrial cycle.' Macy's (M) is now on Morgan Stanley's (MS) 'Best Ideas List' and had their estimates raised to $66 per share from $60. The firm thinks Macy's 'is a secular winner in omni-channel retailing' and has an 'Overweight' rating for the stock. Target (TGT) got a downgrade from Goldman Sachs to a 'Neutral' from a 'Buy' rating. Target's price target was also lowered to $59 from $65 on lack of 'near-term catalysts.' TheStreet's Susannah Lee has the details.