** Department store operator Macy's shares down ~2% at $16.29
** Brokerage Morgan Stanley cuts PT to $16 from $17, says promotions may continue into 2025
** Adds that co's 2025 guidance may fall short of "Bold New Chapter" plans or be viewed as overly optimistic
** UBS also cuts PT by $1 to $9, believes Macy's continues to face challenges against competition around price, product, and service
** Company's initiatives to stop share loss will likely not be enough to change the trend - brokerage
** Four of 15 brokerages rate the stock "buy" or higher, 10 "hold" and one "sell" or lower; their median PT is $16 - LSEG data
** M stock has fallen 18% YTD, as of last close
(Reporting by Aamir Sohail in Bengaluru)
((Aamir.Sohail@thomsonreuters.com;))
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