Goldman Sachs reiterated its buy recommendation on Macy’s last week, saying in a note to clients that the department store “is well positioned to exceed expectations in the near and long term.”

“While the economic backdrop presents challenges for the entire sector, Macy’s has a company-specific opportunity that should enable it to gain critical share and improve store productivity today and in the eventual upturn.”

Goldman raised its 12-month price target on the strength of stabilizing same-store sales.