Nordstrom Upgraded to “Buy” at Goldman Sachs (JWN)

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Fashion retailer Nordstrom, Inc. ( JWN ) on Thursday caught a big upgrade from analysts at Goldman Sachs.

The firm said it boosted its rating on JWN from "Neutral" to "Buy" and raised its price target from $54 to $65. That new target suggests a 19% upside to the stocks' Wednesday closing price of $54.71.

Goldman noted it thinks JWN's "secular share gainer status" isn't being fairly valued by the market, and expects earnings estimates and valuation to rise in the near term. Accordingly, the analyst raised its estimates for the company through 2014.


Nordstrom shares were mostly flat in premarket trading Thursday.

The Bottom Line
Shares of Nordstrom Inc. ( JWN ) have a 1.97% dividend yield, based on last night's closing stock price of $54.71. The stock has technical support in the $50-$52 price area. The shares are trading right near all-time highs.

Nordstrom, Inc. ( JWN ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: JWN

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