Nordstrom upgraded to Neutral from Sell at UBS

UBS upgraded Nordstrom (JWN) to Neutral from Sell with a price target of $24, up from $14.50, following the announcement that the comapny had signed a definitive agreement under which members of the Nordstrom family and El Puerto de Liverpool, S.A.B. de C.V. will acquire all of the remaining unowned outstanding shares in a deal with a total enterprise value of $6.25B, or an acquisition price of $24.25 per share.