Deutsche Bank Maintains Buy On Nordstrom Shares, $77 PT
In a research report issued today, Deutsche Bank analyst Paul Trussell maintained a Buy rating on Nordstrom Inc (NYSE:JWN) with a price target of $77.00.
Trussell observed, “JWN remains our preferred stock within the troubled department store sector, because of its higher-end focus, diversification beyond the U.S. Mall, and accelerating growth (top & bottom line). The combination of double-digit sq. ft. growth for The Rack, entry into the best Canadian malls, and 4 websites – each with a unique assortment and promotional strategy – lead us to value Nordstrom’s business at a premium to its peers. While we are making a slight reduction to our 3Q SSS due to an overall challenging 3Q environment, no discretionary retailer we cover is better poised for strong SSS ahead as over 40% of the company’s mix is in these aforementioned “growth segments”.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Paul Trussell has a total average return of 12.0% and a 76.4% success rate. Trussell has a 13.3% average return when recommending JWN, and is ranked #234 out of 3347 analysts.