On Nov 27, major Wall Street analysts update their ratings for $Kohl's Corp (KSS.US)$, with price targets ranging from $11 to $25.
J.P. Morgan analyst Matthew Boss maintains with a sell rating, and adjusts the target price from $17 to $13.
BofA Securities analyst Lorraine Hutchinson maintains with a sell rating, and adjusts the target price from $18 to $15.
Guggenheim analyst Robert Drbul maintains with a buy rating, and adjusts the target price from $38 to $25.
Baird analyst Mark Altschwager downgrades to a hold rating, and adjusts the target price from $25 to $18.
Telsey Advisory analyst Dana Telsey maintains with a hold rating, and maintains the target price at $23.
Furthermore, according to the comprehensive report, the opinions of $Kohl's Corp (KSS.US)$'s main analysts recently are as follows:
Kohl's has revised downward its fiscal year 2024 forecasts for sales, comparable store sales, operating margin, and earnings per share, acknowledging ongoing difficulties within its principal operations and anticipating a fiercely competitive holiday season. Additionally, the appointment of a new CEO has been noted, and while the incoming leader's expertise in customer interactions from Michaels is deemed valuable, the prevailing fundamental challenges of Kohl's are expected to persist.
Sales have been an ongoing issue at Kohl's for several years, with a noticeable deterioration in Q3; the company's initiatives are not meeting expectations, contributing to a worsening business situation. The competitive position for Kohl's remains challenging.
Kohl's experienced a notable decline in same-store-sales, with a 9.3% drop, further decelerating on a two-year stacked basis to 14.8%. This marks the 11th consecutive quarter of negative performance in the same category. The downtrend in sales during September and October can be partially attributed to unfavorably warm weather and hurricanes, alongside challenges ahead of the U.S. election.
The firm noted that management at Kohl's is implementing forceful measures to stabilize sales, with optimism that the new CEO will be a good match. However, they remain cautious regarding execution concerning private brands' inventory speed and management, as well as the reintroduction of fine jewelry. Challenges such as a discerning consumer base and a shorter holiday shopping period were also highlighted as potential headwinds.
Following Q3 results and the revised, more cautious outlook on discretionary spending at Kohl's, earnings estimates for FY24 and FY25 have been adjusted to $1.20 and $1.55, down from $2.00 and $2.25, respectively. Despite these disappointing outcomes, optimism remains regarding the company's strategic initiatives.
Here are the latest investment ratings and price targets for $Kohl's Corp (KSS.US)$ from 6 analysts:
Note:
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