Nordstrom price target lowered to $17 from $21 at Deutsche Bank

Deutsche Bank analyst Gabriella Carbone lowered the firm’s price target on Nordstrom to $17 from $21 and keeps a Hold rating on the shares after the company reported softer than expected Holiday sales and cut its outlook. While investors were concerned around elevated promotional activity, she thinks the update "missed already low buy-side expectations," Carbone noted.