A Peek Into The Market Before The Trading Starts

US stock futures are signaling a lower start on the Wall Street today, after a long holiday weekend. Shares of Barclays Plc

might suffer after the company named its new chief executive. Futures on the Dow Jones Industrial Average dropped 51.00 points to 10,385, while S&P 500 futures declined 6.50 points to 1,097. Nasdaq 100 futures slipped 9.00 points to 1,858.

Negative sentiments ruled the European markets today. While STOXX Europe 600 Index has lost 0.61%, London’s FTSE 100 Index moved down 0.69%. Asian markets showed mixed results today, with Japan's Nikkei Stock Average losing 0.81%, Australia's S&P/ASX 200 moving down 0.06% and China's Shanghai Composite gaining 0.07%.

Deutsche Bank is out with a research report this morning, where it reiterates its Buy rating on Kohl’s

; it has a $67.00 price target on the stock. The DB analysts cited the company’s high cash balance of $2.5 billion, which has been driven by solid operating performance, gaining of market share, gaining same store sales, as well as leading square footage growth with margin recovery and expansion. The analysts believe KSS is in a position to now employ stock buybacks and dividends, which should accelerate investor returns and spur P/E expansion. They believe the NTM total yield will reach approximately 8%. As for valuation, the analysts noted, “KSS trades at 12.8x our FY10 est of $3.64 and 11.1x our new FY11 est of $4.17, a discount to its 5-yr CY ave P/E of 17x and 5-yr FY ave P/E of 15x. Our $67 PT is based on 16x our FY11 EPS est, in-line with the company’s 1-yr avg CY multiple, which we feel is appropriate given accelerating sales momentum, sq ft growth, and opportunity to expand margins on systems & ex-commerce investments and penetration of private & exclusive brands.”

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