khiong
2021-11-25
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J.P. Morgan downgrades Gap, keeps Nordstrom at Sell citing margin headwinds
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Morgan downgrades Gap, keeps Nordstrom at Sell citing margin headwinds","url":"https://stock-news.laohu8.com/highlight/detail?id=1114968227","media":"seekingalpha","summary":"The Gap, Inc.(NYSE:GPS)and Nordstrom(NYSE:JWN)both lose nearly a fifth of their value in their pre-m","content":"<p>The Gap, Inc.(NYSE:GPS)and Nordstrom(NYSE:JWN)both lose nearly a fifth of their value in their pre-market as analysts find few positive notes in the retailers' earnings releases Tuesday.</p>\n<p>At J.P. Morgan, The Gap is downgraded to Neutral from Buy as EPS came in 46% below consensus due to supply chain headwinds.</p>\n<p>Analyst Matthew R. Boss says that it will be challenging for the company to achieve a 500 bps EBIT margin as previously expected. EBIT margin is guided to ~5% in the current year.</p>\n<p>J.P. Morgan lowers its price target on the stock to $22 from $39 compared to the average price target of $32. Shares are down 21.74% pre-market.</p>\n<p>Meanwhile, J.P. Morgan maintains its sell rating on Nordstrom (JWN), which blamed higher labor costs for its earnings miss. Shares are down 25.27% since the announcement.</p>\n<p>Analyst Jay Sole writes that the earnings report increases the Sell thesis conviction.</p>\n<p>\"We think the Street underestimates the pressure on JWN earnings from share loss as consumers' migrate to online pureplay channels, retailers with better value-for-money propositions such as Off-Price retailers, and brands' own channels,\" says Sole. \"We also believe many underestimate how difficult it will be for JWN to re-leverage fixed costs.\"</p>\n<p>J.P. Morgan believes that the environment could become more challenging for Nordstrom given its vulnerability to small profitability changes and more promotional activity next year. The firm has a price target of $12 on the stock versus the consensus of $34.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>J.P. 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Morgan downgrades Gap, keeps Nordstrom at Sell citing margin headwinds\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-24 23:00 GMT+8 <a href=https://seekingalpha.com/news/3774268-jpmorgan-downgrades-gap-keeps-nordstrom-at-sell-citing-margin-headwinds><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Gap, Inc.(NYSE:GPS)and Nordstrom(NYSE:JWN)both lose nearly a fifth of their value in their pre-market as analysts find few positive notes in the retailers' earnings releases Tuesday.\nAt J.P. ...</p>\n\n<a href=\"https://seekingalpha.com/news/3774268-jpmorgan-downgrades-gap-keeps-nordstrom-at-sell-citing-margin-headwinds\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JWN":"诺德斯特龙"},"source_url":"https://seekingalpha.com/news/3774268-jpmorgan-downgrades-gap-keeps-nordstrom-at-sell-citing-margin-headwinds","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1114968227","content_text":"The Gap, Inc.(NYSE:GPS)and Nordstrom(NYSE:JWN)both lose nearly a fifth of their value in their pre-market as analysts find few positive notes in the retailers' earnings releases Tuesday.\nAt J.P. Morgan, The Gap is downgraded to Neutral from Buy as EPS came in 46% below consensus due to supply chain headwinds.\nAnalyst Matthew R. Boss says that it will be challenging for the company to achieve a 500 bps EBIT margin as previously expected. EBIT margin is guided to ~5% in the current year.\nJ.P. Morgan lowers its price target on the stock to $22 from $39 compared to the average price target of $32. Shares are down 21.74% pre-market.\nMeanwhile, J.P. Morgan maintains its sell rating on Nordstrom (JWN), which blamed higher labor costs for its earnings miss. 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