07:30 AM EST, 03/06/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our 12-month price target of $16, based on 8.0x our FY 25 (Jan.) EPS estimate and in line with peers average forward P/E multiple. We maintain our FY 25 EPS estimate of $2.00 and initiate our FY 26 EPS estimate at $2.00. JWN posts normalized Q4 EPS of $0.96 vs. $0.74, $0.02 above consensus estimates on revenues of $4.4B vs. $4.3B and $40M above estimates. By brand, Nordstrom ( JWN ) banner sales declined 3.0% Y/Y, while Nordstrom Rack grew 14.6% in the quarter. Sales at Nordstrom Rack benefitted nearly 6% from an extra week in the quarter, while Nordstrom ( JWN ) had a 355 bps negative impact from the wind-down of its Canadian operations. Digital sales fell 1.7% Y/Y and continue to normalize, finishing FY 24 at 36% of total sales. Inventory declined 2.7% Y/Y, which we believe is in line with sales growth over the past five years. After a +60% run since November, we believe valuation is extended and shares are due for a breather over the next few months - we prefer peers like Dillard's (DDS) and Macy's (M) over JWN.