Macy’s got an upgrade, but there may be a better way to play retail


Is it time to dive into department store stocks?

Analysts at Cowen brought that question to the forefront on Thursday by upgrading Macy’s stock to outperform, citing the company’s digital innovation efforts and calling it “an American icon reinvented.”

Macy’s shares finished trading up nearly 2% on Thursday. Kohl’s stock followed suit, ending the day roughly 1% higher. Both stocks and fellow department store operator Nordstrom fell sharply in early Friday trading.

There may be a more lucrative way to play the evolving retail landscape, however, Tocqueville Asset Management portfolio manager John Petrides told CNBC’s “Trading Nation” on Thursday.

“Investing in the big-box retailers has been a…


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