Nordstrom (JWN) PT Lowered to $45 at Citi
Get Alerts JWN Hot Sheet
Price: $18.92 +0.96%
Rating Summary:
6 Buy, 27 Hold, 6 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
6 Buy, 27 Hold, 6 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Join SI Premium – FREE
Citi analyst Paul Lejuez lowered the price target on Nordstrom (NYSE: JWN) to $45.00 (from $56.00) while maintaining a Neutral rating. JWN reported Nov/Dec comps +1.3%, below our forecast of +2-3% and consensus of +2.6%. The issue was at full price stores, where comps were +0.3%, as weak traffic caused the need to take more markdowns.
Citi lowered F18E from $3.61 to $3.55 based on the sales miss in 4Q. We are also lowering our F19E from $3.79 to $3.54 based on lower sales and margins than prev forecast.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- QuantumScape (QS) PT Lowered to $6 at Truist Securities
- Yageo Corp. (2327:TT) (YAGOY) PT Lowered to NT$656 at HSBC
- TD Cowen Resumes EQT Corp. (EQT) at Hold
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst PT ChangeRelated Entities
CitiSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!