Evercore ISI raised the firm’s price target on Nordstrom (JWN) to $22 from $20 and keeps an In Line rating on the shares. Nordstrom had “a great quarter,” but it is “hard to embrace either a bullish or bearish thesis going forward with no update on the Nordstrom family’s offer to buy the company,” the analyst tells investors. The “confusing” and “concerningly conservative” Q4 guidance “makes it even more difficult to navigate the incentive crosscurrents at play for the stock right now,” the analyst added.
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Read More on JWN:
- Nordstrom price target raised to $14.50 from $13 at UBS
- Nordstrom Reports Strong Q3 2024 Earnings Growth
- JWN Earnings: Nordstrom Slips after Providing Soft Guidance
- Nordstrom Reports Strong Q3 2024 Financial Performance
- Nordstrom backs FY24 adjusted EPS view $1.75-$2.05, consensus $1.90
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
