Nordstrom Given New $68.00 Price Target at UBS AG (JWN)
Investment analysts at UBS AG reduced their price target on shares of Nordstrom (NYSE:JWN) from $73.00 to $68.00 in a note issued to investors on Wednesday, Analyst Ratings Net reports. The firm currently has a “buy” rating on the stock. UBS AG’s price target points to a potential upside of 15.41% from the stock’s previous close.
A number of other firms have also recently commented on JWN. Analysts at Citigroup Inc. initiated coverage on shares of Nordstrom in a research note on Wednesday. They set a “neutral” rating and a $65.00 price target on the stock. Separately, analysts at Nomura initiated coverage on shares of Nordstrom in a research note on Wednesday, February 12th. They set a “neutral” rating and a $65.00 price target on the stock. Finally, analysts at Sterne Agee cut their price target on shares of Nordstrom from $62.00 to $57.00 in a research note on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $66.33.
Shares of Nordstrom (NYSE:JWN) traded up 0.12% during mid-day trading on Wednesday, hitting $58.99. 781,577 shares of the company’s stock traded hands. Nordstrom has a 1-year low of $52.16 and a 1-year high of $63.72. The stock’s 50-day moving average is $59.16 and its 200-day moving average is $59.12. The company has a market cap of $11.406 billion and a P/E ratio of 15.65.
Nordstrom, Inc is a fashion specialty retailer, with 225 the United States stores located in 30 states as of March 16, 2012.
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