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Fly News Breaks for July 11, 2018
JWN
Jul 11, 2018 | 05:20 EDT
UBS analyst Jay Sole says Nordstrom's analyst day increased the conviction in his Buy rating. The company is building a business that "can thrive in tomorrow's retail environment" and its EBIT margin is about to inflect, Sole tells investors in a research note. He believes Nordstrom's margin performance will beat expectations, driving a 20% expansion in its price-to-earnings multiple. Sole sees the stock heading towards his $69 price target.
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