Adrianne Shapira, Goldman Sachs

Nordstrom, Inc. (JWN) - Adrianne Shapira at Goldman Sachs

Analysts lowers ratings on Coach, Nordstrom NEW YORK A Goldman Sachs analyst cut the ratings and price targets of luxury retailers Coach Inc and Nordstrom Inc. Friday, saying investors won't want to pay premiums for the two stocks. Analyst Adrianne Shapira emphasized that Nordstrom's downgrade was closely tied to its share price and raised the luxury retailer's 2009, 2010 and 2011 earnings per share estimates on its results for sales at stores open at least a year On Thursday, the company, based in Seattle, reported the key sales figure rose 14 percent in January to top analysts' expectations This figure is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones 

Macy's, Inc. (M) - Adrianne Shapira at Goldman Sachs

Department store operator Macy's Inc was cut to neutral from buy by Goldman Sachs on Friday but rival JC Penney Co /quotes/comstock/13*!jcp /quotes/nls/jcp ( JCP 2681 , 081 , 293% ) was raised to neutral While December retail sales showed quarter over quarter improvement, the tepid 12% gain in Goldman's department store index doesn't signal that a "roaring recovery is around the corner," said analyst Adrianne Shapira 

J. C. Penney Company, Inc. (JCP) - Adrianne Shapira at Goldman Sachs

Department store operator Macy's Inc was cut to neutral from buy by Goldman Sachs on Friday but rival JC Penney Co /quotes/comstock/13*!jcp /quotes/nls/jcp ( JCP 2681 , 081 , 293% ) was raised to neutral While December retail sales showed quarter over quarter improvement, the tepid 12% gain in Goldman's department store index doesn't signal that a "roaring recovery is around the corner," said analyst Adrianne Shapira 

Coach, Inc. (COH) - Adrianne Shapira at Goldman Sachs

Adrianne Shapira, an analyst at Goldman Sachs, recently upgraded Coach to Buy from Neutral, saying a return to high end spending could boost the stock to 42 in the next year. "We do not believe [Coach's] sector leading 9% square footage growth and exposure to outsized growth in China is adequately reflected in its shares," says Shapira, who pegs downside risk at 30. 

Wal-Mart Stores, Inc. (WMT) - Adrianne Shapira at Goldman Sachs

As a registered user of The Wall Street Journal Online, you will be able to: Setup and manage your portfolio Personalize your own news page Receive and manage newsletters .Search MarketBeatBy Matt Phillips Target's tepid fourth quarter outlook and its unfortunate proximity to Wal Mart in the U.S retail scene prompted Goldman Sachs retail analysts to downgrade the stock from "conviction buy" to neutral today. Goldman's Adrianne Shapira writes: .  

Wal-Mart Stores, Inc. (WMT) - Adrianne Shapira at Goldman Sachs

"Gross margin upside could be tempered, given a more aggressive Wal Mart, expenses are coming in above our prior expectations, and credit delinquencies are likely to tick higher, given current delinquency trends," Goldman Sachs analyst Adrianne Shapira wrote in a note dated Nov. 17. Whether or not Wal Mart's Thanksgiving Day and Black Friday promotional efforts prove successful, they are likely to pressure competitors' sales and margins, the analyst said. 

Nordstrom, Inc. (JWN) - Adrianne Shapira at Goldman Sachs

Goldman Sachs' Adrianne Shapira and other analysts said investors could receive pleasant surprises as retail executives hint at better times ahead. Some retailers, including Nordstrom, have already provided positive reports: It recently announced sales at stores open at least a year rose 6.5 percent in October. Even more encouraging, some upscale retailers are reporting significantly stronger store traffic lately, with customers willing to pay full price rather than shopping for sales, said retail analyst Erika Maschmeyer of Robert W. Baird. • Recession's good news: Cities see burglaries fall Ever since he was laid off in March, Frank Beil has been on the lookout. He keeps an eye out for cars moving slowly down the street or strangers walking along the sidewalk of his suburban Chicago neighborhood. 

Polo Ralph Lauren Corporation (RL) - Adrianne Shapira at Goldman Sachs

Goldman analyst Adrianne Shapira raised her 2009 and 2010 per share profit estimates on the company again by 1% to 3%. "Polo is at the start of a multi year growth phase across geographies ..Copyright 2009 Dow Jones & Company, Inc. All Rights Reserved This copy is for your personal, non commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non personal use or to order multiple copies, please contact Dow Jones Reprints at 1 800 843 0008 or visit www.djreprints.com