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Fly News Breaks for November 20, 2019
KSS
Nov 20, 2019 | 08:29 EDT
Baird analyst Mark Altschwager lowered his price target on Kohl's to $58 from $65 following Q3 results. The analyst noted the company made a return to positive comps after a tough spring season but the growth came at a cost amid a more promotional backdrop. He believes the shares look inexpensive and Q4 guidance appears prudent given the competitive environment however he said the company will need to demonstrate a path to profitable growth before its valuation can re-rate higher. Altschwager maintained his Outperform rating on Kohl's shares.
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