KeyBanc Reiterates a 'Buy' on Nordstrom (JWN); Anniversary Sale Has Strong Start
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Price: $60.68 -0.74%
Rating Summary:
12 Buy, 9 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
12 Buy, 9 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade JWN Now!
KeyBanc reiterates a 'Buy' on Nordstrom (NYSE: JWN) price target of $65.00.
Analyst, Edward Yruma, said, "The KBCM Softlines team conducted its annual early read checks for Nordstrom, Inc.'s (NYSE: JWN) Anniversary Sale - we believe the sale is off to a strong start. For the uninitiated, Nordstrom's Anniversary Sale is arguably the Company's most important sales event of the year and, unlike almost every other sale in softlines, is for the upcoming season (Fall). In our opinion, this event gives us one of the best early reads for the 2H. As is our practice, we visited and called numerous stores over the weekend, spoke with vendors, and compiled data from Nordstrom.com. We continue to believe that Nordstrom is our best positioned retailer to take advantage of improved conditions for the middle and upper-income U.S. consumer."
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 $52.44 yesterday, with a 52 week range of $37.28-$57.75.
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Analyst, Edward Yruma, said, "The KBCM Softlines team conducted its annual early read checks for Nordstrom, Inc.'s (NYSE: JWN) Anniversary Sale - we believe the sale is off to a strong start. For the uninitiated, Nordstrom's Anniversary Sale is arguably the Company's most important sales event of the year and, unlike almost every other sale in softlines, is for the upcoming season (Fall). In our opinion, this event gives us one of the best early reads for the 2H. As is our practice, we visited and called numerous stores over the weekend, spoke with vendors, and compiled data from Nordstrom.com. We continue to believe that Nordstrom is our best positioned retailer to take advantage of improved conditions for the middle and upper-income U.S. consumer."
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 $52.44 yesterday, with a 52 week range of $37.28-$57.75.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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