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In a report published on Wednesday, analysts from Sterne Agee initiated coverage on
NordstromJWN with a Buy rating and $70 PT.
In the report, lead analyst Charles Grom commented that, "A key tenet to our Barbell Strategy is to recommend retailers with LT structural advantages and with its (1) limited promotional reliance; (2) upscale targeted demographic; (3) variable cost model; (4) multi-channel growth capabilities; (5) greater product differentiation; and (6) forward-thinking management team, Nordstrom fits into this strategy nicely."
Nordstrom closed on Wednesday at $58.02.
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