Nordstrom price target lowered to $24 from $25 at Gordon Haskett

Gordon Haskett lowered the firm’s price target on Nordstrom (JWN) to $24 from $25 and keeps a Hold rating on the shares as part of the firm’s retail outlook for 2025. The near-term event path for the sector remains unfavorable given that the exit rate in January was likely soft for most, the analyst tells investors in a research note. The firm also believes the upcoming spring weather outlook, the coldest in 10 years, is “precarious.” This dynamic, coupled with a high degree of tariff and interest rate uncertainty, will likely yield Q1 and 2025 guides below Street estimates, contends Gordon Haskett.