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Deutsche Bank analyst Paul Trussell published a report on Kohl's
KSS that downgraded its rating from Hold to Sell and lowered its price target from $42 to $41.
Deutsche Bank reported that, “We are downgrading KSS to Sell from Hold as weakening traffic share losses
to off-price, less share donation from JCP, cold weather) and a heavy inventory
position (according to our channel checks) could lead to incremental
promotions and greater than expected markdowns, pressuring margins. With a
FY13 EPS range reliant on a return to GPM expansion, we believe current
forecasts are likely too high and we are positioned at the low-end of the
forecast (with risk to the downside) as a result. We see KSS retouching its prior
lows and we've set a $41 PT accordingly.”
Shares of Kohl's closed at $46.43 on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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