UPDATE: Gilford Securities Downgrades Kohl's to Hold on Sentiment

Gilford Securities reduced its rating on Kohl's

from Buy to Hold. Gilford Securities noted, "A case can be made for KSS on a value basis. But Kohl's has taken longer than expected to pull out of its malaise and our confidence in Kohl's has eroded. If December sales are strong, the stock may rally significantly. We believe it is more likely that Kohl's prospects will remain murky through 2013's first quarter." Kohl's closed at $43.86 on Monday.