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Hood Upgrades Nordstrom (JWN) to MARKET PERFORM from UNDERPERFORM

February 8, 2010

Wayne Hood, senior research analyst covering Broadline Retail, has today upgraded Nordstrom (JWN) to a MARKET PERFORM rating from UNDERPERFORM.

From Hood's note: "Despite continued strong relative sales and earnings growth and strong operating disciplines, the stock has retreated about 10% year -to date compared with a 4.4% decline for the S&P 500, a 7.6% average decline for the department store group and is now at our downside price target of $33 per share."

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