Sterne Agee Reiterates Buy On Nordstrom

Sterne Agee is out with a research report on NORDSTROM INC. JWN and it has a Buy rating and a $54 price target on shares. In a note to clients, Sterne Agee writes, "Bullet summary point 7% and the Rack increased By concept, Nordstrom increased Bullet 2 & 3 Bullet summary point 5%) decelerated 100 bps and 3.8%. point. year comps (13.7% /180 bps, respectively. Nordstrom outperformed the department store average by 530 bps & broader retail by 120 bps in August. Transactions were up and ATVs were up for the 9th month in a row. We believe the weakness in the stock can be attributed to outperformance earlier in the week and elevated buy-side expectations."