Citi analyst Paul Lejuez lowered the firm’s price target on Nordstrom to $17 from $21 and keeps a Neutral rating on the shares after the company announced that holiday sales were down 3.5%, including down 1.7% at full line and down 7.6% at Rack, and lowered its EPS outlook. Following the update he is lowering his FY22 and FY23 EPS forecasts based on lower sales and margins than previously forecast.
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Published first on TheFly
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Read More on JWN:
- Nordstrom price target lowered to $16 from $25 at Evercore ISI
- Nordstrom downgraded to Reduce from Hold at Gordon Haskett
- 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%