Nordstrom, Inc. (NYSE:JWN) is a compelling partner for brands that do not subscribe to the “department stores are dead” mantra.
That’s according to BMO Capital Markets analyst Simeon Siegel, one of four experts weighing in on the retailer’s first-quarter earnings.
Adjusted losses were 24 cents per share (analysts expected losses of 7 cents per share).
Here’s a glimpse into Siegel’s and other experts’ reactions to the company’s quarterly performance:
- Siegel reiterated the Market Perform rating on Nordstrom, with a price forecast of $20.
- Telsey Advisory Group analyst Dana Telsey reiterated the Market Perform rating on Nordstrom, with a price forecast of $19.
- JPMorgan analyst Matthew R. Boss reiterated the Underweight rating on the stock, with a price forecast of $17.
- BofA Securities analyst Lorraine Hutchinson reiterated the Underweight rating on Nordstrom, raising the price target to $18 from $15.
BMO: Siegel views the company’s revenue guidance as conservative, with potential questions surrounding margin improvement.
Nordstrom is clearly challenged, and with historically choppy ...