BofA analyst Lorraine Hutchinson lowered the firm’s price target on Kohl’s (KSS) to $15 from $18 and keeps an Underperform rating on the shares after management cut FY24 guidance for sales, comps, operating margin, and EPS to reflect continued challenges in the core business and expectations for a highly competitive holiday. The firm also notes that a new CEO was announced and while it thinks Ashley Buchanan’s customer-facing expertise from Michaels should provide value, BofA expects many of Kohl’s core challenges to remain.
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Read More on KSS:
- Kohl’s price target lowered to $14 from $18 at Citi
- Kohl’s downgraded to Neutral from Outperform at Baird
- Kohl’s Reports Q3 Financial Results and CEO Transition
- Kohl’s downgraded to Reduce at Gordon Haskett on sales worries, CEO exit
- Kohl’s price target lowered to $14 from $18 at Evercore ISI
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
