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Fly News Breaks for November 9, 2015
KSS, M
Nov 9, 2015 | 08:24 EDT
Citi analyst Paul Lejuez lowered his estimates and price targets for Macy's (M) and Kohl's (KSS) after his channel checks indicated the department store channel had a "tough quarter." Warm weather and weak traffic trends likely led to a shortfall in sales and elevated inventory, Lejuez tells investors in a research note. He cut his price target for Macy's to $48 from $52 and for Kohl's to $46 from $50. The analyst keeps a Neutral rating on both names.
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