Goldman Sachs Upgrades Nordstrom To Buy

In a report published by Goldman Sachs, Nordstrom JWN is upgraded to Buy. Goldman Sachs said that it is upgrading Nordstrom to Buy from Neutral as it sees 16% upside based on combination of earnings and multiple expansion. “Our 12-month price target of $49 is unchanged and continues to be based on 14x our forward 24 month EPS estimate of $3.49.” Nordstrom closed yesterday at $42.30.