Nordstrom price target raised to $14.50 from $13 at UBS

UBS analyst Jay Sole raised the firm’s price target on Nordstrom (JWN) to $14.50 from $13 and keeps a Sell rating on the shares. Nordstrom should continue to face challenges vs. off-price retailers and brands’ direct-to-consumers channels, which is likely to drive further share losses and lead to downward EPS revisions and weaker sentiment over the next few years, the analyst tells investors in a research note. The Q3 report did not cause the firm to change its conviction in this view, UBS adds.