Stifel Sees Nordstrom's (JWN) Executive Changes as 'Incremental'; Affirms at Buy

September 22, 2016 6:41 AM EDT
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Price: $44.20 --0%

Rating Summary:
    11 Buy, 19 Hold, 5 Sell

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    Up: 13 | Down: 10 | New: 3
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Stifel affirms Nordstrom (NYSE: JWN) with a Buy rating and $58 price target following news of an executive shift.

Analyst Richard Jaffe commented: To further accelerate its e-commerce, digital and mobile efforts, it has appointed Ken Worzel as president of Worzel has been executive VP of Strategy and Development since 2010. Additionally, the company shifted leadership responsibilities to better support the Nordstrom full-line stores and Rack stores across both stores and digital. These changes are incremental, and we do not anticipate any disruption or material impact on the business.

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