Nomura Securities Starts Nordstrom (JWN) at Neutral; The Curse of Being Good

Nomura Securities initiates coverage on Nordstrom (NYSE: JWN) with a Neutral. PT $51.00.

Nomura analyst, Paul Lejuez, said, "JWN is a best-in-class retailer. It is in the enviable position of consistently achieving strong productivity, operating margin and ROIC and, in our view, out-executes its department store peers. Being a best-in-class company, however, does not translate into being a great stock, in this case. We believe the market appreciates its excellence, and with JWN seemingly already doing everything right, it is less obvious how the company will generate upside to our estimates (which are 2% above consensus)."

For more ratings news on Nordstrom click here and for the rating history of Nordstrom click here.

Shares of Nordstrom closed at $50.46 yesterday.

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