UPDATE: Evercore ISI Downgrades Nordstrom (JWN) to In Line

(Updated - February 16, 2022 5:50 AM EST)

Evercore ISI analyst Omar Saad downgraded Nordstrom (NYSE: JWN) from Outperform to In Line with a price target of $25.00 (from $35.00).

The analyst comments "We are downgrading JWN to In-Line from Outperform as the company’s scaled omni-channel and BOPUS capabilities aren’t driving a broader sales and margin inflection, or helping the company overcome its Rack inventory challenges or the sticky comfort and home trends that don’t align with the company’s core merchandising strengths."

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 $22.64 yesterday.

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