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Kohl’s Downgraded to Hold at Deutsche Bank (KSS)

Deutsche Bank announced on Thursday that they have downgraded department store chain, Kohl's Corporation( KSS ).

The firm reported that they have downgraded the company from a "Buy" to a "Hold," and have reduced their price target from $62 to $45. This price target suggests a slight decrease from the stock's current price of $45.70.

An analyst from the firm commented, "we are having déjà vu this morning to 12/1/11 as KSS once again posted very soft, arguably unacceptable SSS in Nov. with a down 5.6% print - instilling fears that the modest improvement we saw in July-Oct. was not trend worthy. Importantly, while we don't think the rest of 4Q will be as bad (as Nov.), it's 100% hard to defend the stock with so many structural issues at play. Complicating matters, Street est's are materially too high for 4Q12 and '13 - the latter of which we think could approach $4.00-$4.25, suggesting further downside in the stock. Accordingly, we are downgrading the stock to Hold."

Kohl's shares were down -$5.49, or -10.73% during Thursday afternoon trading. The stock is down -7.32% YTD.

The Bottom Line

Shares of Kohl's ( KSS ) have a 2.50% dividend yield, based on last night's closing stock price of $51.15. The stock has technical support in the $41-$42 price area. If the shares can firm up, we see overhead resistance around the $50-$52 price levels.

Kohl's Corporation( KSS ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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