Kohl's: Jefferies downgrades stock
(CercleFinance.com) - Jefferies has downgraded its rating on Kohl's from "buy" to "hold," while cutting its corresponding target price from 65 dollars to 52 dollars, with it stating "Poor Comps & Margin Declines Continue".
In its research note, the broker highlights the weakness of key categories, as well as market share losses, saying "we see comps continuing to underwhelm and margins declining".
Although it appreciates management's initiatives to incite people into stores, such as its partnership with Amazon, it underlines that "results continue to be muted, regardless of the multiple self-help initiatives in place".
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In its research note, the broker highlights the weakness of key categories, as well as market share losses, saying "we see comps continuing to underwhelm and margins declining".
Although it appreciates management's initiatives to incite people into stores, such as its partnership with Amazon, it underlines that "results continue to be muted, regardless of the multiple self-help initiatives in place".
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.