In Monday’s Analysts’ Actions, TheStreet highlights a trio of downgrades on Macy’s (M), JPMorgan Chase (JPM) and Qualcomm (QCOM) to kick off the shortened trading week. Analysts at Deutsche Bank lowered its rating on Macy’s by two notches to SELL from BUY. Analysts also reduced its price target on shares of the department store to $63 from $71. Deutsche said it has little confidence that Macy’s can bounce out of its same-store sales rut. Analysts at Oppenheimer downgraded JPMorgan Chase to PERFORM from OUTPERFORM citing a valuation call. The firm noted that it sees a lack of earnings drivers for the bank. And, analysts at Drexel Hamilton issued a negative note on Qualcomm. The firm downgraded the company to a SELL from HOLD with a $55 price target. TheStreet’s Kurumi Fukushima reports in New York.
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