27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Nordstrom, Inc. (NYSE:JWN) has been added to Wedbush's Best Ideas list.
The Analyst
Analyst Jen Redding upgraded Nordstrom from Neutral to Outperform rating and raised the price target from $55 to $75.
The Thesis
New and unique limited distribution brands, localized market strategies and a powerful omnichannel will be key drivers of Nordstrom's revenue and gross margin expansion in the coming years, Redding said in the Tuesday upgrade note. (See her track record here.)
“With all data signals positive across each product classification, we now have visibility into Nordstrom’s turnaround story and believe Nordstrom’s current business trajectory is on track for 2018 to be an inflection point for profitable growth as generational investments scale and digital capabilities leverage,” the analyst said.
Wedbush's data analytics for Nordstrom showed positive data signals across each product classification in 12 of 13 weeks in the third quarter.
Redding expects a bright holiday season ahead for Nordstrom and sees any pullback in shares related to a market sell-off as an attractive entry point.
Overall, shares of U.S. retailers are good opportunities in a year with a strong dollar, as bright U.S. prospects fuel domestic discretionary spending and attract and overseas investors seeking high dollar-denominated returns, according to Wedbush.
Price Action
Nordstrom shares were trading up 6.71 percent at $66.79 at the time of publication Tuesday.
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Public domain photo via Wikimedia.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
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