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.
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