Citi skeptical about the possibility of a Macy’s buyout
- Macy’s stock falls 3.6% after Citi downgrade
- Investor group wants to take Macy’s private at $21 a share
- Citi skeptical about the possibility of a deal
- Monetizing Macy’s real estate may be challenging
- Macy’s stock down 3.1% in 2023
Macy’s Inc. shares fell 3.6% after Citi downgraded the stock to sell from neutral amid a report that an investor group wants to take the department-store chain private at $21 a share. Citi is skeptical about the possibility of a deal, citing the challenges of financing and the company’s secular challenges. Monetizing Macy’s real estate, including its flagship Herald Square store, may be difficult. Macy’s stock is down 3.1% in 2023.
Factuality Level: 7
Factuality Justification: The article provides information about Macy’s Inc. shares falling after a downgrade and a report of an investor group wanting to take the company private. It cites sources and includes statements from Citi analysts. However, it does not provide a balanced perspective or include comments from Macy’s or Brigade Capital Management.
Noise Level: 4
Noise Justification: The article provides some relevant information about Macy’s Inc. shares falling after a downgrade and a report of an investor group wanting to take the company private. However, there is a lack of in-depth analysis or evidence to support the claims made in the article. The article also includes some repetitive information and speculation about the value of Macy’s real estate. Overall, the article contains some noise and filler content, but it does stay on topic and provides some relevant information.
Financial Relevance: Yes
Financial Markets Impacted: Macy’s Inc. shares
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The news article pertains to the financial topic of Macy’s Inc. shares falling after a downgrade and a report of a potential buyout. However, there is no mention of an extreme event or its impact.
Public Companies: Macy’s Inc. (M)
Private Companies: Arkhouse Management,Brigade Capital Management
Key People: Paul Lejuez (Citi analyst), Doug Sesler (Wall Street real estate financier)
Reported publicly:
www.marketwatch.com 
