UPDATE: Nomura Securities Upgrades Nordstrom (JWN) to Buy; Recent Weakness is Buying Opportunity
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Price: $59.87 -0.48%
Rating Summary:
12 Buy, 9 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
12 Buy, 9 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade JWN Now!
(Updated - June 1, 2012 8:37 AM EDT)
Nomura Securities upgraded Nordstrom (NYSE: JWN) from Neutral to Buy. PT $55.
Analyst, Paul Lejuez, said, "The company’s strong execution, enviable customer base, and best-in-class ROIC stand out in our retail universe. We believe we are nearing an inflection point in the EBIT margin, top-line momentum remains strong, and growth in the Rack concept is driving higher ROIC. With the stock (5)% YTD vs our group +14%, investors are presented with an attractive buying opportunity as JWN trades at an EV/EBITDA multiple (5.5x) in line with its department store peers. Maintain F12E/F13E EPS of $3.54/$3.96 vs Street $3.44/$3.92, respectively."
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 $47.37 yesterday, with a 52 week range of $37.28-$57.75.
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Nomura Securities upgraded Nordstrom (NYSE: JWN) from Neutral to Buy. PT $55.
Analyst, Paul Lejuez, said, "The company’s strong execution, enviable customer base, and best-in-class ROIC stand out in our retail universe. We believe we are nearing an inflection point in the EBIT margin, top-line momentum remains strong, and growth in the Rack concept is driving higher ROIC. With the stock (5)% YTD vs our group +14%, investors are presented with an attractive buying opportunity as JWN trades at an EV/EBITDA multiple (5.5x) in line with its department store peers. Maintain F12E/F13E EPS of $3.54/$3.96 vs Street $3.44/$3.92, respectively."
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 $47.37 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
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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