Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Nordstrom Stock Fell Today

TheMotleyFool

0 0

Shares of Nordstrom (NYSE: JWN) were giving up some of their recent gains today after the department store chain received an analyst downgrade. The stock was off 5.7% as of 3:08 p.m. EDT on Wednesday.

UBS analyst Jay Sole lowered his rating on the retailer from neutral to sell, while maintaining his price target at $30, and called the stock's recent run-up "unjustified." Nordstrom stock had gained more than 50% from its bottom in August after it started moving higher following its second-quarter earnings report.

Nordstrom Rack, the chain's discount outlet. Image source: Nordstrom.

Source Fool.com

Like: 0

JWN

Share