
Nordstrom (JWN) Stock Gains, Upgraded at Piper Jaffray
NEW YORK (TheStreet) -- Shares of Nordstrom (JWN) - Get Report are climbing 2.25% to $43.70 in pre-market trading on Tuesday as Piper Jaffray raised its rating on the stock to "overweight" from "neutral," the Fly reports.
The firm also upped its price target to $53 from $45 on shares of the Seattle-based fashion specialty retailer.
The higher rating and price target come as the firm sees "signs of accelerating trends" from the company's anniversary sale event.
Piper Jaffray said at the midpoint of the sale, sell-through rates are tracking well ahead of last year and the four-year average with denim is showing strength, the Fly noted.
Additionally, the firm cited easier comparisons moving forward.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the 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.
But the team also finds weaknesses including feeble growth in the company's earnings per share, deteriorating net income and generally higher debt management risk.
Recently, 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.
You can view the full analysis from the report here: JWN










