UPDATE: Deutsche Bank Reiterates Buy Rating, Lowers PT on Nordstrom on 4Q Results

In a report published Friday, Deutsche Bank reiterated its Buy rating on Nordstrom

, but lowered its price target from $60.00 to $58.00. Deutsche Bank noted, “Nordstrom's better-than-expected 4Q results showcased the company's strong earnings power with EBIT flow-through rising to 18.6% from 11.2% sequentially and EPS increasing 26% YOY. While FY13 guidance fell short, this should be no surprise given the company's track record.” Nordstrom closed on Thursday at $54.52.