Nordstrom (JWN): Notes From Management Meeting - Cowen
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Cowen analyst, Oliver Chen, reiterated his Outperform rating on shares of Nordstrom (NYSE: JWN) after hosting an investor visit to HQ on August 23rd. Investors met with CoPresident Blake Nordstrom, CFO Mike Koppel, & IR Director Trina Schurman who acknowledged the need to re-invent the full-price shopping experience as well as the rise of Amazon. The biggest positives include cleaner inventories, the Anniversary sale momentum & Rack improvement.
The analyst acknowledged that JWN is expensive, but he remained at an Outperform rating. No change to the price target of $55.
Shares of Nordstrom closed at $51.26 yesterday.
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