Citigroup Maintains Neutral Rating for Nordstrom: Here's What You Need To Know

Citigroup has decided to maintain its Neutral rating of Nordstrom JWN and lower its price target from $20.00 to $18.00.

Shares of Nordstrom are trading down 9.52% over the last 24 hours, at $15.22 per share.

A move to $18.00 would account for a 18.28% increase from the current share price.

About Nordstrom

Nordstrom is a fashion retailer that operates about 94 department stores and approximately 245 off-price Nordstrom Rack stores. The company also operates both full- and off-price e-commerce sites, two clearance stores, and seven Local locations. Nordstrom's largest merchandise categories are women's apparel (28% of 2022 sales), shoes (26% of 2022 sales), men's apparel (15% of 2022 sales), and women's accessories (13% of 2022 sales). Nordstrom, which traces its history to a shoe store opened in Seattle in 1901, continues to be partially owned and managed by members of the eponymous family.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.