Deutsche Bank Adjusting Estimates and PT on Nordstrom (JWN); Best Comp In Our Universe
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Price: $60.71 +0.38%
Rating Summary:
12 Buy, 9 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
12 Buy, 9 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade JWN Now!
Deutsche Bank maintains a 'Buy' on Nordstrom (NYSE: JWN) price target of $62.00 (from $63.00).
Deutsche analyst said, "Nordstrom, once again, produced the best comp in our universe – up 8.1% in June – well ahead of our 5.0% view and consensus of only 4.4%. All segments performed well with the multi-channel rising 8.5% and Rack up 8.2%. We are raising our 2Q12 SSS and EPS to 2.8% (includes neg. 4% comp in July) and $0.74 (up from $0.73), on the better the expected performance."
However FY13 EPS estimate is lowered from $4.20 to $4.10, citing a modest downward adjustment to model to reflect low teen EBIT flow-through.
For an analyst ratings summary and ratings history on Nordstrom click here. For more ratings news on Nordstrom click here.
Shares of Nordstrom closed at $50.56 yesterday, with a 52 week range of $37.28-$57.75.
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Deutsche analyst said, "Nordstrom, once again, produced the best comp in our universe – up 8.1% in June – well ahead of our 5.0% view and consensus of only 4.4%. All segments performed well with the multi-channel rising 8.5% and Rack up 8.2%. We are raising our 2Q12 SSS and EPS to 2.8% (includes neg. 4% comp in July) and $0.74 (up from $0.73), on the better the expected performance."
However FY13 EPS estimate is lowered from $4.20 to $4.10, citing a modest downward adjustment to model to reflect low teen EBIT flow-through.
For an analyst ratings summary and ratings history on Nordstrom click here. For more ratings news on Nordstrom click here.
Shares of Nordstrom closed at $50.56 yesterday, with a 52 week range of $37.28-$57.75.
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