Nomura Upgrades Nordstrom to Buy (JWN)
Nordstrom (NYSE: JWN) was upgraded by equities researchers at Nomura (NYSE: NMR) from a “neutral” rating to a “buy” rating in a report issued on Friday. The firm currently has a $55.00 target price on the stock.
Shares of Nordstrom traded down 0.09% during mid-day trading on Friday, hitting $46.76. Nordstrom has a 52 week low of $37.28 and a 52 week high of $57.75. The company has a market cap of $9.727 billion and a P/E ratio of 14.64.
Nordstrom last issued its quarterly earnings data on Thursday, May 10th. The company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by $0.05. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. On average, analysts predict that Nordstrom will post $0.70 earnings per share next quarter.
A number of other analysts have also recently weighed in on JWN. Analysts at Zacks reiterated a “neutral” rating on shares of Nordstrom in a research note to investors on Friday, May 18th. They now have a $51.00 price target on the stock. Separately, analysts at Deutsche Bank (NYSE: DB) reiterated a “buy” rating on shares of Nordstrom in a research note to investors on Friday, May 11st. Finally, analysts at Goldman Sachs (NYSE: GS) reiterated a “buy” rating on shares of Nordstrom in a research note to investors on Friday, May 11st.
Nordstrom, Inc. is a fashion specialty retailer. The Company offers apparel, shoes, cosmetics and accessories for women, men and children.