MKM Partners analyst Patrick McKeever raised his price target on Kohl's to $63 ahead of Q4 earnings, forecasting a 6% SSS increase for the quarter after the company's ICR presentation disclosed 6.9% rise in the November-December period. The analyst also anticipates some modest gross margin improvement thanks to better sales in higher-margin private label along with low-single-digit SSS outlook for the first half due to easy comparisons. McKeever keeps his Neutral rating on Kohl's, citing some lingering concerns about sustainability due to "less disposable income going to apparel and online pure-plays" competition.