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Fly News Breaks for May 12, 2016
KSS
May 12, 2016 | 13:46 EDT
Baird analyst Mark Altschwager lowered his price target on Kohl's to $48 from $52 after the company's first quarter sales and earnings came in below already lowered expectations. However, the analyst maintains an Outperform rating on the stock, which he said has been "left for dead," as he believes the company's disciplined cost and inventory management, the stock's dividend yield near 6%, and easier industry comparisons in the second half of the year make for a favorable risk/reward.