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Macy’s, J.C. Penney Downgraded at Goldman Sachs (M, JCP)

Department store giants Macy's, Inc. ( M

) and J.C. Penney Company, Inc. ( JCP ) both saw their ratings cut on Monday by analysts at Goldman Sachs.

The firm downgraded both M and JCP from "Buy" to "Neutral," citing the stocks' unfavorable risk/reward, given their current valuations.

Goldman said Macy's should be able to meet its sales and EPS estimates, and raise its price target on the stock slightly, from $24 to $25. Meanwhile, the analyst said it expects near-term choppiness for JCP and boosted its target from $25 to $26.

Macy's shares fell 40 cents, or -1.7%, while J.C. Penney shares fell 49 cents, or -1.8%, in premarket trading Monday.

The Bottom Line

Shares of Macy's ( M ) have a .86% dividend yield, based on Friday's closing stock price of $23.15.

Shares of J.C. Penney ( JCP ) have a 2.92% dividend yield, based on Friday's closing stock price of $27.44.

Macy's, Inc. ( M ) and J.C. Penney Company, Inc. ( JCP ) are both rated "Neutral" with Dividend.com DARS™ Ratings of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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