Nordstrom: Rating Downgrade As Upside No Longer Attractive
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Nordstrom's stock has been downgraded to a hold rating as it surpassed the target price of $23.80, now trading at $24.60. Despite strong Q3 earnings and sales growth, concerns over inventory levels may impact future margins.
November 27, 2024 | 3:00 pm
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Nordstrom's stock has been downgraded to a hold rating as it surpassed the target price of $23.80, now trading at $24.60. Despite strong Q3 earnings and sales growth, concerns over inventory levels may impact future margins.
The downgrade to a hold rating suggests limited upside potential after the stock surpassed the target price. Strong earnings and sales growth are positive, but inventory concerns could affect future margins, leading to a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100