Cowen upgrades Macy's to outperform, says retail stock can rally nearly 30%

Published Thu, Sep 9 20216:29 AM EDTUpdated Thu, Sep 9 20218:50 AM EDT

People wear facemasks as they walk through Herald Square on January 8, 2021 in New York City.

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Macy's is transforming itself into a modern digital retailer and its stock should be a big winner, according to investment firm Cowen.

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