UPDATE: Morgan Stanley Downgrades Nordstrom (JWN) to Underweight

August 26, 2021 3:36 AM EDT
Get Alerts JWN Hot Sheet
Price: $19.39 +0.78%

Rating Summary:
    7 Buy, 24 Hold, 7 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 9 | New: 24
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(Updated - August 26, 2021 4:01 AM EDT)

Morgan Stanley analyst Kimberly Greenberger downgraded Nordstrom (NYSE: JWN) from Equalweight to Underweight with a price target of $27.00 (from $36.00).

The analyst comments "JWN fell -18% on 2Q sales & margin results that lagged peers. We see further stock price downside as revenue recovery appears protracted & cost inflation pressures EBIT margin, putting $2.40 consensus 2022e out of reach in our view. L-T EPS growth remains elusive. Downgrade to UW & cut PT to $27."

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 $31.14 yesterday.

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