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Nordstrom (JWN) Stock Gains, Upgraded at Piper Jaffray

NEW YORK (TheStreet) -- Shares of Nordstrom (JWN) are climbing 2.25% to $43.70 in pre-market trading on Tuesday as Piper Jaffray raised its rating on the stock to "overweight" from "neutral," the Fly reports.

The firm also upped its price target to $53 from $45 on shares of the Seattle-based fashion specialty retailer.

The higher rating and price target come as the firm sees "signs of accelerating trends" from the company's anniversary sale event.

Piper Jaffray said at the midpoint of the sale, sell-through rates are tracking well ahead of...