Nordstrom price target lowered to $18 from $20 at Citi

Citi lowered the firm’s price target on Nordstrom to $18 from $20 and keeps a Neutral rating on the shares post the “better” Q2 report. Although Nordstrom’s inventory is in good shape, the volatile sales trends at both its concepts combined with the uncertain macro environment warrant caution about the second half of the year, the analyst tells investors in a research note.