Nordstrom price target raised to $19 from $17 at Evercore ISI

Evercore ISI raised the firm’s price target on Nordstrom to $19 from $17 and keeps an In Line rating on the shares. Nordstrom’s “strong” Q1 top-line beat adds to a growing list of softlines retailers delivering sales upside in Q1, notes the analyst, who adds that management’s disclosure that trends have slowed in May, and the lack of a full-year guidance raise for either sales or EPS, were “tempering our reaction.” The firm thinks trends during Q2 and the semi-annual sales “will be the much bigger test for the stock,” the analyst tells investors.