Nordstrom Estimates And PT Increased; 2013 And 2014 Estimates Introduced

Citigroup is raising Nordstrom, Inc.'s JWN 2011 EPS estimate to $3.19, up from $3.10 previously and above consensus of $3.00. “Our EPS revision reflects our updated SSS and operating margin assumptions,” Citigroup writes, noting that it is also introducing its 2011 quarterly EPS estimates as follows: – 1Q11E: $0.65, vs. consensus of $0.62 – 2Q11E: $0.75, vs. consensus of $0.74 – 3Q11E: $0.65, vs. consensus of $0.60 – 4Q11E: $1.14, vs. consensus of $1.07 Citigroup is also introducing its 2013 EPS estimate of $4.14) and 2014 EPS estimate ($4.74). Further, Citigroup has raised its target price for JWN to $51, up from $49 previously, based on its updated 2011 EPS estimate. Nordstrom currently trades at $42.41.