Nordstrom (JWN) Stock Price Target Lowered at Deutsche Bank

NEW YORK (TheStreet) -- Nordstrom (JWN) had its price target lowered to $83 from $84 at Deutsche Bank which reiterated its "buy" rating.

Deutsche Bank reduced 2015 earnings estimates to $3.76 from $3.84 per share, and decreased 2016 earnings estimates to $4.36 per share from $4.67.

However, analysts forecast that there is visibility toward at least $20 billion in sales by 2020, and fiscal year 2015 is expected to be the peak year, according to Deutsche Bank's note.

"We believe Nordstrom is transforming itself into a steady top-tier retail sales story, with several segments combining to potentially drive toward a 5% comp run-rate by the end of the year," Deutsche Bank analysts said.

Nordstrom is a fashion specialty retailer that operates retail and credit segments in the U.S. and Canada.

Shares of Nordstrom are gaining 0.12% to $75.64 in morning trading Friday.

Separately, TheStreet Ratings team rates NORDSTROM INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate NORDSTROM INC (JWN) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, increase in stock price during the past year and notable return on equity. We feel its strengths outweigh the fact that the company has had sub par growth in net income."

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