Nordstrom Go-Private Deal Likely, But The Stock Is A Buy Either Way

Shares of Nordstrom, Inc. (NYSE: JWN) traded higher by more than 5 percent on Wednesday after a CNBC report suggested the namesake family is closing in on a potential deal with a private equity firm to take the company private.

While the likelihood of take-private transaction occurring is “likely” the stock is attractive if no deal is finalized, KeyBanc Capital Markets’ Edward Yruma commented in a research report. The analyst maintains an Overweight rating on Nordstrom’s stock with an unchanged $55 price target.

Nordstrom’s management team understands the importance of embracing machine learning, cloud, artificial intelligence and other new-age technology features to offer a superior experience to consumers, Yruma commented. The …

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