Nordstrom price target raised to $22 from $20 at Evercore ISI

Evercore ISI raised the firm’s price target on Nordstrom (JWN) to $22 from $20 and keeps an In Line rating on the shares. Nordstrom had “a great quarter,” but it is “hard to embrace either a bullish or bearish thesis going forward with no update on the Nordstrom family’s offer to buy the company,” the analyst tells investors. The “confusing” and “concerningly conservative” Q4 guidance “makes it even more difficult to navigate the incentive crosscurrents at play for the stock right now,” the analyst added.