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Nordstrom (NYSE:JWN) was upgraded by analysts at Credit Suisse from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Friday, reports. The firm currently has a $78.00 price objective on the stock, up from their previous price objective of $65.00. Credit Suisse’s price target points to a potential upside of 26.85% from the company’s current price.

The analysts wrote, “bridge to the likely earning acceleration in 2016.” Assuming that Nordstrom completes this sale, it should be poised for higher earnings in the next couple years and should be able to capitalize on its “capital-intensive”

Shares of Nordstrom (NYSE:JWN) traded up 10.91% on Friday, hitting $68.20. 3,381,149 shares of the company’s stock traded hands. Nordstrom has a one year low of $54.90 and a one year high of $64.19. The stock’s 50-day moving average is $61.79 and its 200-day moving average is $60.93. The company has a market cap of $12.937 billion and a P/E ratio of 16.57. Nordstrom also saw some unusual options trading on Thursday. Stock traders purchased 15,620 put options on the company. This is an increase of 761% compared to the average daily volume of 1,814 put options.

Nordstrom (NYSE:JWN) last released its earnings data on Thursday, May 15th. The company reported $0.72 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.68 by $0.04. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.86 billion. On average, analysts predict that Nordstrom will post $3.85 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Wednesday, May 28th.

A number of other firms have also recently commented on JWN. Analysts at RBC Capital raised their price target on shares of Nordstrom from $67.00 to $75.00 in a research note on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Topeka Capital Markets raised their price target on shares of Nordstrom from $68.00 to $73.00 in a research note on Friday. They now have a “buy” rating on the stock. Finally, analysts at McAdams Wright Ragen downgraded shares of Nordstrom from a “buy” rating to a “hold” rating in a research note on Wednesday, April 30th. They noted that the move was a valuation call. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $66.89.

In other Nordstrom news, EVP Peter Nordstrom sold 40,984 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $62.82, for a total transaction of $2,574,614.88. Following the completion of the sale, the executive vice president now directly owns 2,101,551 shares of the company’s stock, valued at approximately $132,019,434. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Nordstrom, Inc is a fashion specialty retailer. As of March 18, 2013, the Company operates 242 United States stores located in 31 states, as well as an e-commerce business through nordstrom.

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