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UPDATE: Nomura Equity Research Reiterates Neutral Rating, Lowers PT on Kohl's Corporation

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In a report published Friday, Nomura Equity Research reiterated its Neutral rating on Kohl's Corporation (NYSE: KSS), but lowered its price target from $46.00 to $41.00.

Nomura Equity Research noted, “After struggling to drive top line for 18 months, we viewed the KSS inventory build as a proverbial ‘Hail Mary' to drive sales (as mgmt hoped to drive conversion). While our view has been that this was unlikely to work, we now see definitively that it did not. Over the past few months, the gap between inventory and comp growth grew until they were forced into aggressive promos to clear inventory. The +3.4% Dec comp came with an expensive margin price tag and a big reduction in 4Q guidance.”

Kohl's Corporation closed on Thursday at $42.35.

Latest Ratings for KSS

DateFirmActionFromTo
Feb 2017SusquehannaInitiates Coverage OnNeutral
Jan 2017Credit SuisseDowngradesNeutralUnderperform
Jan 2017Telsey Advisory GroupDowngradesOutperformMarket Perform

View More Analyst Ratings for KSS
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Posted-In: Nomura Equity ResearchAnalyst Color Price Target Analyst Ratings

 

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