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Nordstrom (JWN) Stock Earnings Estimate Raised at Credit Suisse

NEW YORK (TheStreet) -- Nordstrom (JWN - Get Report) 2016 earnings estimate was raised to $3.92 from $3.75 at Credit Suisse on Friday.

The firm maintained its "neutral" rating and $76 price target on the stock.

Nordstrom has begun to see topline benefits from its recent growth initiatives, including Rack e-commerce, Trunk Club, and entry into Canada, which together contributed approximately 3% to total sales growth, the firm noted.

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"As it expects to fund its growth initiatives through its operating cash flows, we think proceeds could likely...