UBS analyst Jay Sole has increased the price target for Nordstrom (JWN) to $14.50 from $13 while keeping a Sell rating on the shares.
The analyst notes that Nordstrom is expected to continue facing significant challenges from off-price retailers and brands' direct-to-consumer channels, which may result in further market share losses.
These competitive pressures are likely to lead to downward revisions in earnings per share (EPS) and a decline in investor sentiment over the coming years.