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Fly News Breaks for March 4, 2020
JWN
Mar 4, 2020 | 08:43 EDT
Barclays analyst Adrienne Yih downgraded Nordstrom to Underweight from Equal Weight with a price target of $29, down from $38. The analyst sees more compelling risk/reward opportunities in Retail following Nordstrom's Q4 results. The company is facing secular pressure given the shift away from mall-based department stores, Yih tells investors in a post-earnings research note. Further, Nordstrom's bet on New York City may provide sales growth for the next year but the investment is significant, adds the analyst.
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