Fashion retailer Nordstrom, Inc. (
) on Thursday caught a big upgrade from analysts at Goldman
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
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
The Bottom Line
Shares of Nordstrom Inc. (
) 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. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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