Nordstrom (JWN): Notes From Management Meeting - Cowen

August 29, 2016 7:28 AM EDT
Get Alerts JWN Hot Sheet
Price: $53.29 -1.37%

Rating Summary:
    13 Buy, 18 Hold, 4 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 25 | New: 8
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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.

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 $51.26 yesterday.

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