Analysts: Hold Nordstrom on Slowing Sales, Valuation and 3 More Research Notes to Explore
Nordstrom (NYSE:JWN): Maxim has downgraded Nordstrom to Hold from Buy based on valuation, slowing industrywide sales, and expectations for multiple contraction. The price target was also lowered, to $63 from $70.
Diamond Offshore (NYSE:DO): Capital One has downgraded Diamond Offshore to Neutral from Add, citing “stagnant” offshore drilling fundamentals and overhangs from uncontracted jackup newbuild queues. The price target has also been lowered, to $73 from $76.
Quiksilver (NYSE:ZQK): Following Quicksilver’s report of weaker-than-expected second-quarter results, DA Davidson expects the company’s near-term trends to remain difficult but predicts that the company will rebound in 2014. It reiterates a $9 price target and Buy rating on the stock.
Extra Space Storage (NYSE:EXR): UBS has upgraded Extra Space Storage to Neutral from Sell and the relative sector view to marketweight from underweight, as the firm notes second-quarter industry results indicate that REITs are gaining pricing power, and that the improving economic environment and strengthening housing market favor the self storage sector. The price target was raised to $44 from $37.
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