Nordstrom (JWN) PT Lowered to $50 at KeyBanc, Remains Positive on 'Holiday Hope'
KeyBanc lowered its price target on Nordstrom (NYSE: JWN) to $50.00 (from $55.00) while maintaining a Overweight rating.
Analyst Edward Yruma believes the Q3 results "were fair" given the headwinds from the hurricanes. The analyst believes the upcoming holiday season is going to be very critical for the company given the October announcement of a temporary suspension of the family buyout process. Yruma believes a strong holiday season could be catalyst required to drive a successful leveraged buyout of the company.