Nordstrom price target raised to $19 from $17 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Nordstrom to $19 from $17 and keeps a Market Perform rating on the shares. The company recently reported Q4 results, with EPS higher than consensus, the analyst tells investors. Upside was from better-than-expected topline growth and cost control, but gross margin was a bit weaker, the firm adds. Looking forward, the company intends to focus on increasing digital growth, Rack’s store openings, and improved execution, but the firm maintains it rating due to merchandising issues in both banners and the lack of earnings growth expected this year.