Nomura Securities Maintains a 'Neutral' on Nordstrom (JWN); Raising PT & Estimates
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Price: $24.66 --0%
Rating Summary:
4 Buy, 30 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 18 | New: 20
Rating Summary:
4 Buy, 30 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 18 | New: 20
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Nomura Securities maintains a 'Neutral' on Nordstrom (NYSE: JWN) price target raised from $51 to $55.
Analyst, Paul Lejuez, said, "In the near term, JWN’s business trends are likely to remain strong, which could go a long way toward demonstrating that its investments in customer service and ecommerce are paying off. We believe current momentum is likely to continue, which should help the stock move higher near term. We are increasing our F12E from $3.49 to $3.54 and our F13E from $3.91 to $3.96 based on better sales and margins than previously forecast. While we remain neutral on the stock based on uncertainty about the return on JWN’s longer-term investments, we are raising our target price."
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 $53.77 yesterday.
Analyst, Paul Lejuez, said, "In the near term, JWN’s business trends are likely to remain strong, which could go a long way toward demonstrating that its investments in customer service and ecommerce are paying off. We believe current momentum is likely to continue, which should help the stock move higher near term. We are increasing our F12E from $3.49 to $3.54 and our F13E from $3.91 to $3.96 based on better sales and margins than previously forecast. While we remain neutral on the stock based on uncertainty about the return on JWN’s longer-term investments, we are raising our target price."
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 $53.77 yesterday.
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