MORGAN STANLEY: We just witnessed Nordstrom’s strongest quarter of the year (JWN)
|08/17/2018||Posted by BusinessMediaguide.Com under General World News||
- Nordstrom‘s second-quarter results beat on both the top and bottom lines, sending shares up more than 11%.
- “We expect 2Q will be the strongest quarter in 2018,” analysts from Morgan Stanley said.
- Morgan Stanley raised its price target to $47 — 11% below where shares settled Thursday.
- Watch Nordstrom’s stock price in real-time here.
Morgan Stanley says the second quarter was as good as it gets for Nordstrom this year.
On Thursday, the retailer reported second-quarter results that topped Wall Street estimates on both the top and bottom lines. It earned an adjusted $0.95 a share on revenue of $4.07 read more >>>