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Fly News Breaks for June 4, 2015
JWN
Jun 4, 2015 | 07:08 EDT
Credit Suisse downgraded Nordstrom to Neutral and reduced its price target to $76 from $85. The firm sees higher capital spending levels going forward from continued Rack expansion, higher than expected full-line openings in the U.S., and increased IT spending. Credit Suisse expects returns to continue to be pressured and said questions remain whether there are more projects ahead or investments are behind it.
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