UPDATE: Deutsche Bank Reiterates on Nordstrom on Continued Favorable Outlook - Nordstrom (NYSE:JWN)

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In a report published Friday, Deutsche Bank analyst Paul Trussell reiterated a Buy rating on

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Nordstrom

(NYSE: JWN), and raised the price target from $63.00 to $67.00.In the report, Deutsche Bank noted, “Nordstrom's 3Q results lacked the fireworks of the previous Department Store prints and were relatively neutral to the overall story, in our view. With sales trends now stable at the Full-Line and accelerating at the Rack, comparisons easing significantly over the next few quarters, and online efforts remaining robust (including a profitable Hautelook), we remain favorably biased. Margins and EBIT flow-through remain a key question, but we take comfort in strong expense discipline YTD (only 10 bps of SG&A de-leverage on a ~2.5% comp) and improving ROIC (up 110 bps YOY to 14.0%).”Nordstrom closed on Thursday at $63.43.