Nordstrom Downgraded: Analyst Highlights Consumer Pressure And Potential M&A Impact
Portfolio Pulse from Nabaparna Bhattacharya
KeyBanc Capital Markets downgraded Nordstrom (NYSE:JWN) from Overweight to Sector Weight due to consumer pressure and potential M&A impact. The Nordstrom Family and Liverpool proposed a go-private transaction at $23 per share, which may limit stock upside.
September 26, 2024 | 6:35 pm
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Nordstrom was downgraded by KeyBanc due to consumer pressure and potential M&A impact. A go-private proposal at $23/share may limit stock upside.
The downgrade from Overweight to Sector Weight by KeyBanc reflects concerns over consumer pressure and the impact of a potential go-private transaction. The proposed acquisition price of $23 per share offers limited upside compared to the previous target of $24, which could weigh on the stock's short-term performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100