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Fly News Breaks for August 17, 2018
JWN
Aug 17, 2018 | 08:32 EDT
RBC Capital analyst Brian Tunick raised his price target on Nordstrom to $55 and kept his Sector Perform rating after its "very solid" Q2 earnings report that showed a "notable acceleration" in comps along with margin improvement. The analyst adds that he is encouraged by the company's e-commerce growth, with "improvements in off-price" contributing to the best comps in 3 years. Tunick expects the positive comps and merchandise margin trends to be sustained.
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