Nordstrom (JWN) PT Raised to $73 at Topeka Capital

Topeka Capital maintained a Buy rating on Nordstrom (NYSE: JWN) and raised its price target to $73.00 (from $68.00).

Analyst Dorothy S. Lakner said, "JWN provided a nice quarterly beat, driven by strong Direct and Rack comps, with full-line performance solid in a tough environment. We continue to see JWN as a multi-channel leader in retail focused on serving its customers the way they want to be served, investing in a customer experience where speed, convenience and a broad assortment are key and providing the accessibility of the online business with the high-touch experience of its stores. Decision to seek a partner for its credit business another positive."

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 $61.49 yesterday.

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