Morgan Stanley Maintains Underweight on Nordstrom, Lowers Price Target to $16
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Kimberly Greenberger maintains an Underweight rating on Nordstrom (NYSE:JWN) and lowers the price target from $18 to $16.
June 02, 2023 | 11:58 am
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NEGATIVE IMPACT
Morgan Stanley maintains an Underweight rating on Nordstrom and lowers the price target from $18 to $16.
Morgan Stanley's decision to maintain an Underweight rating on Nordstrom and lower the price target from $18 to $16 indicates a negative outlook for the stock. This could lead to a short-term decrease in the stock price as investors may perceive the lowered price target as a sign of weaker future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100