Morgan Stanley Maintains Underweight on Nordstrom, Lowers Price Target to $13
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Kimberly Greenberger has maintained an Underweight rating on Nordstrom (NYSE:JWN) and reduced the price target from $14 to $13.
November 28, 2023 | 1:05 pm
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Morgan Stanley's analyst has reiterated an Underweight rating on Nordstrom and decreased the price target, suggesting a bearish outlook.
The reduction in price target by a major financial institution like Morgan Stanley typically indicates a bearish perspective on the stock's value and future performance. This can influence investor sentiment and potentially lead to a decrease in stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100