UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Kohl's Corporation on Reasonable Guidance

In a report published Friday, Jefferies reiterated its Buy rating on Kohl's Corporation KSS, and slightly raised its price target from $52.00 to $53.00. Jefferies noted, “KSS shares are out of favour, investor patience is thin, and until SSS come back the stock could remain cheap, sporting a double digit FCF yield. With that said, management continues to push forward with merchandise and marketing changes this year, following a year that was focused more on price and inventory adjustments. If content and promotional changes resonate with its customers this spring, it may yet get out of the penalty box.” Kohl's Corporation closed on Thursday at $46.10.