NEW YORK (TheStreet) -- Despite the fact that many department store stocks continue to head lower, Nordstrom (JWN) - Get Report remains one company to watch, TIAAGlobal Asset Management Managing Director Stephanie Link said today on CNBC's "Fast Money: Halftime Report."

Department store stocks have been on the downturn recently as they are further pressured by competition from online consumer companies such as Amazon.com (AMZN).

However, Miller Tabak upgraded shares of Nordstrom to "neutral" from "sell" earlier today and Link defended the firm's decision.

"Clearly the department stores are going through a transition in a very, very big way," Link noted, adding that they have "really been hit hard" but there is a "good trade here."

"I think longer term, these guys are very well positioned with Rack, off price, full price but also online. They have a very diversified business model so you have to have patience for the long term," Link continued.

Nordstrom's Rack is a segment of the company which sells products through its brick and mortar stores and its website.

Shares of Nordstrom are falling by 3.27% to $37 this afternoon.

Separately, TheStreet Ratings rated Nordstrom as a "hold" with a score of C.

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

The primary factors that have impacted our rating are mixed. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and generally higher debt management risk.

You can view the full analysis from the report here: JWN

Image placeholder title