While most Wall Street analysts express a cautious view of fashion retailer Nordstrom (NYSE: JWN), Wedbush Securities decided to break with the consensus today by boosting its price target for the stock to $36. This represents more than 12.5% upside potential from Nordstrom's share value at the time the prediction was made, and it more than doubles Wedbush's target from its previous $17 level, Morningstar reports. The stock market responded positively today to Wedbush's altered price target despite its unchanged neutral rating on the retailer. The new target represents a strong break with other analysts, whose consensus price for Nordstrom is $24.39, which effectively forecasts a 25% downside instead. Even J.P. Morgan, whose research note on Nordstrom said its digital presence gave it an objective advantage over competing department stores, was only willing to set a $27 price target. Image source: Getty Images. Nordstrom surprised analysts and investors positively with a strong third-quarter report, featuring earnings per share $0.37 higher than analyst expectations. Excess inventory sold off to achieve normal levels before the holidays. Wedbush maintained its neutral rating while ratcheting up its price target more than 100% because, its research note states, "we see opportunity in share price as stronger-than-expected momentum and holiday business fuels potential for a meaningful positive surprise to fourth quarter." It also says "we reiterate our neutral rating on shares for the longer term," indicating it believes the gains to be a temporary holiday boost only. But with dramatic e-commerce sales improvement (online purchases now account for 57% of all sales), good cash flow, and the flexibility to refocus toward its off-price Rack segment in response to changing conditions, some analysts believe Nordstrom has potential over the longer haul, too. 10 stocks we like better than NordstromWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Nordstrom wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Rhian Hunt has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source