Expect Nordstrom Range-Bound - Rob Plaza (Zacks.com)

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Expect Nordstrom Range-Bound
May 16, 2008 09:20 PM UTC

Rob Plaza (Zacks.com)

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Symbol	Sentiment	Start	Return	Closed
JWN		05/16/08	-12.17%	--

5/16 - "Nordstrom (JWN) reported first quarter earnings per share of $0.54, which matched our estimate, but was $0.05 ahead of consensus estimates. The upside was due to better-than-expected expense controls and share repurchases. Even so, the company issued guidance that was below its previous outlook."

"While we think JWN is one of the better ways to invest in retail, its stock is likely to be range bound for the next few quarters. As a result, we maintain our Hold rating and $39 target price, which is 14x our fiscal year 2008 EPS estimate...we think the stock will trade in-line with the overall market for the next six months."

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nextfundmanager

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1 point commented 555 days ago reply

I think expecting any time of stability in the retail names isnt a safe bet. I would expect sharp moves in both directions.

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