Evercore ISI analyst Omar Saad lowered the firm’s price target on Nordstrom to $16 from $25 and keeps an In Line rating on the shares. The holiday sales release also preannounced more disappointing results, with Saad telling investors in a research note that Nordstrom Rack continues to be the issue as "The holiday season was highly promotional, and sales were softer than pre-pandemic levels."
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on JWN:
- Nordstrom price target lowered to $13 from $15 at JPMorgan
- Nordstrom’s (NYSE:JWN) Woes Continue, Retailer Rips Outlook
- Nordstrom cuts FY22 EBIT margin view to 2.8%-3.1% from 4.1%-4.4%
- Nordstrom Reports Holiday Sales, Updates Outlook
- Nordstrom cuts FY22 adjusted EPS view to $1.50-$1.70 from $2.30-$2.60