Nordstrom Price Target Increased to $75.00 by Analysts at Topeka Capital Markets (JWN)
Investment analysts at Topeka Capital Markets increased their target price on shares of Nordstrom (NYSE:JWN) from $73.00 to $75.00 in a note issued to investors on Tuesday. The firm currently has a “buy” rating on the stock. Topeka Capital Markets’ target price indicates a potential upside of 10.41% from the company’s current price.
Nordstrom (NYSE:JWN) opened at 67.93 on Tuesday. Nordstrom has a 1-year low of $54.90 and a 1-year high of $70.71. The stock has a 50-day moving average of $67.37 and a 200-day moving average of $62.41. The company has a market cap of $12.905 billion and a P/E ratio of 18.34.
Nordstrom (NYSE:JWN) last announced its earnings results on Thursday, May 15th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the 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. Analysts expect that Nordstrom will post $3.90 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on JWN. Analysts at Goldman Sachs downgraded shares of Nordstrom from a “buy” rating to a “neutral” rating in a research note on Monday, June 23rd. They now have a $74.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Nordstrom in a research note on Wednesday, June 4th. They now have a $71.00 price target on the stock. Finally, analysts at Buckingham Research raised their price target on shares of Nordstrom from $62.00 to $70.00 in a research note on Friday, May 16th. They now have a “neutral” rating on the stock. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Nordstrom has a consensus rating of “Hold” and a consensus target price of $68.84.
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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