JWN: Attractive Opportunity For Investors

Analysts at Piper Jaffray reiterate their "overweight" rating on Nordstrom Inc JWN. The target price for JWN is set to $51. JWN posted its Q1 EPS ahead of the estimates but short of the consensus. “A recent pullback in shares on what has largely amounted to as an increase in bonus accruals (high-class problem, folks!)” offers investors a good buying opportunity, the analysts say. “Driven primarily by a significantly better than expected same-store sales trend in FQ1 and stellar inventory turns, we remain confident in our $2.64 estimate and believe "comp"-driven upside could likely ensue beyond these levels should the cold, wet weather of the West Coast and Midwest subside in the months to come,” Piper Jaffray adds. More Analyst Ratings here