Nordstrom price target lowered to $11 from $12 at UBS

UBS lowered the firm’s price target on Nordstrom to $11 from $12 and keeps a Sell rating on the shares. The firm thinks the near- to medium-term EBIT margin trajectory will be weaker than the market anticipates, and Nordstrom’s full line stores face difficult compares in an environment that likely continues to face macro challenges, the analyst tells investors in a research note.