UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Kohl's Corporation on Expected Improvement

In a report published Tuesday, Jefferies analyst Daniel Binder reiterated a Buy rating on Kohl's Corporation

, and raised the price target from $53.00 to $55.00. In the report, Binder noted, “Weather likely hurt Q1 and will probably put KSS sales below plan, but we think business improved as weather inflected late in the quarter. Any management commentary suggesting this could keep shares at these levels or better. Inventory position should improve through the year as business is managed more conservatively.” Kohl's Coporation closed on Monday at $48.90.