Goldman Sachs Maintains a 'Buy' on Nordstrom (JWN); Lowering Estimates; Earlier Inflection
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Price: $24.66 --0%
Rating Summary:
4 Buy, 30 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
Rating Summary:
4 Buy, 30 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
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Goldman Sachs maintains a 'Buy' on Nordstrom (NYSE: JWN) price target of $65.00.
Analyst, Adrianne Shapira, said, "JWN posted 1Q EPS of $0.70, below GS/consensus estimates of $0.79/$0.75. The miss relative to our estimate was primarily driven by gross margin ($0.07) and SG&A deleverage ($0.02)...While the 1Q miss and below-consensus 2Q guidance are far from positive, we highlight two key silver linings that keep our thesis intact: (1) Key EBIT inflection to come sooner than planned; and (2) Investments successfully driving top line."
"We lower our FY12/FY13/FY14 EPS estimates to $3.45/$4.00/$4.75 from $3.60/$4.20/$4.95 on the flow through from the 1Q miss and the lower-than-expected 2Q guidance."
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 $53.53 yesterday.
Analyst, Adrianne Shapira, said, "JWN posted 1Q EPS of $0.70, below GS/consensus estimates of $0.79/$0.75. The miss relative to our estimate was primarily driven by gross margin ($0.07) and SG&A deleverage ($0.02)...While the 1Q miss and below-consensus 2Q guidance are far from positive, we highlight two key silver linings that keep our thesis intact: (1) Key EBIT inflection to come sooner than planned; and (2) Investments successfully driving top line."
"We lower our FY12/FY13/FY14 EPS estimates to $3.45/$4.00/$4.75 from $3.60/$4.20/$4.95 on the flow through from the 1Q miss and the lower-than-expected 2Q guidance."
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 $53.53 yesterday.
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