Macy's Remains One Of Citigroup's Top Picks

Macy's Inc. M remains one of Citigroup's top picks for the holiday season. “We believe that the company is well-positioned to gain market share this holiday season and deliver strong 4Q10 EPS results,” Citigroup writes. “We were impressed that the company raised its 4Q10 EPS guidance by two pennies to $1.44-$1.49 following November SSS, and our 4Q10 EPS estimate of $1.52 is above consensus of $1.50.” Citigroup reiterated its Buy rating and $33 target price. Macy's closed Tuesday at $25.58.