KeyBanc analyst Ashley Owens downgraded Nordstrom to Sector Weight from Overweight without a price target. The analyst cites the limited stock price upside related to proposal submission of the go-private transaction at $23 per share in cash for the downgrade. The firm maintains a favorable view on Nordstrom’s 2024 key strategic priorities, but thinks the uncertainty around the proposed transaction will remain an overhang on stock price upside.
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