Morgan Stanley Believes Guidance Appears Optimistic and L-T Outlook Remains Challenged for Kohl's Corporation

In a report published Friday, Morgan Stanley analyst Kimberly C. Greenberger reiterated an Underweight rating and $48.00 price target on

. In the report, Morgan Stanley noted, “3Q reinforces our concern that KSS appears in structural decline. Operating income has fallen at an alarming rate. Revenue strategies are encouraging, but not enough to offset the core business decline in our opinion. We see risk to 4Q and out-year's estimates as guidance appears very optimistic.” Kohl's Corporation closed on Thursday at $56.07.