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M

Macy's

$15.38

-0.11 (-0.71%)

, KSS

Kohl's

$47.11

-1.2 (-2.48%)

06:59
12/02/19
12/02
06:59
12/02/19
06:59

Macy's, Kohl's, Nordstrom popular targets among short sellers, WSJ reports

Macy's (M), Kohl's (KSS) and Nordstrom (JWN) are popular targets among short sellers, as they focus on brick-and-mortar retailers, The Wall Street Journal's Michael Wursthorn reports. Financial data firm S3 Partners tells the publication that short positions against the SPDR S&P Retail ETF hit 441% of the fund's available shares last week. Reference Link

M

Macy's

$15.38

-0.11 (-0.71%)

KSS

Kohl's

$47.11

-1.2 (-2.48%)

JWN

Nordstrom

$38.16

-0.18 (-0.47%)

  • 05

    Dec

M Macy's
$15.38

-0.11 (-0.71%)

11/14/19
GUGG
11/14/19
NO CHANGE
Target $66
GUGG
Buy
Guggenheim raises price targets on off-price retailers TJX, Ross Stores
Guggenheim analyst Robert Drbul said the off-price sector remains one of his favorites in U.S. retail and he believes the environment will be supportive this holiday and in 2020 based on the inventory imbalance he sees in the marketplace today, which should create a product/buying environment that supports continued revenue gains. He predicts a return to postive double digit percentage earnings growth in 2020 and raised his price target on TJX (TJX) shares to $66 from $60 and his price target for Ross Stores (ROST) to $125 from $120. He has Buy ratings on both stocks. Elsewhere in the group, he keeps Neutral ratings on Burlington Stores (BURL), Nordstrom (JWN) and Macy's (M).
11/20/19
FBCO
11/20/19
NO CHANGE
Target $48
FBCO
Neutral
Kohl's price target lowered to $48 from $51 at Credit Suisse
Credit Suisse analyst Michael Binetti lowered his price target for Kohl's (KSS) to $48 from $51 following the company's Q3 results, saying he thought Kohl's would fare better than weaker industry trends considering a meaningful number of new initiatives, and says he was "disappointed" in the company's Q3 SSS miss. Binetti tells investors in a research note to investors that he sees incremental risk for Macy's (M) and Nordstrom (JWN) this week, adding that he doesn't see much change to concerns that without an external catalyst, underlying industry trends in softlines categories remain lackluster.
11/22/19
DBAB
11/22/19
NO CHANGE
Target $18
DBAB
Hold
Macy's price target lowered to $18 from $22 at Deutsche Bank
Deutsche Bank analyst Paul Trussell lowered his price target for Macy's to $18 from $22 and keeps a Hold rating on the shares. The analyst remains cautious around the department stores and specialty retail following the Q3 earnings season.
11/21/19
BOFA
11/21/19
NO CHANGE
Target $12
BOFA
Underperform
Macy's price target lowered to $12 from $14 at BofA/Merrill
BofA Merrill Lynch analyst Lorraine Hutchinson noted that after a "disappointing" third quarter, Macy's cut its fiscal-year outlook, estimating that the company's guidance implies Q4 comp sales being down 1.5% to 3%. She previously worried that the company's second half outlook was too optimistic and now thinks it looks more achievable, but sees a shift in the risk to FY20, during which she believes it will be challenging for Macy's to return to profitable growth. Hutchinson reiterates an Underperform rating on Macy's shares and lowered her price target on the stock to $12 from $14.
KSS Kohl's
$47.11

-1.2 (-2.48%)

11/20/19
JEFF
11/20/19
NO CHANGE
Target $65
JEFF
Buy
Kohl's price target lowered to $65 from $75 at Jefferies
Jefferies analyst Randal Konik said he must adopt a more conservative approach toward Kohl's (KSS) after its sales were softer than expected and its gross margins deteriorated further in the third quarter, "which is never a good combination." Competitive pressures are rising, other retailers appear to be taking share, and the Amazon (AMZN) partnership doesn't appear to be providing meaningful benefits yet, said Konik, who lowered his price target on Kohl's shares to $65 from $75 but keeps a Buy rating on the stock.
11/20/19
WEDB
11/20/19
NO CHANGE
Target $50
WEDB
Neutral
Kohl's price target lowered to $50 from $53 at Wedbush
Wedbush analyst Jen Redding lowered her price target for Kohl's to $50 from $53 following the company's Q3 results, saying that while the quarter started and finished strong, Kohl's saw weakness in the middle of the quarter owing to a heightened promotional environment correlating with unfavorably warm weather. Redding tells investors in a research note that although she have less visibility into the opportunity for the Amazon return program based on proprietary work, she sees opportunity for upside to guidance should markdowns come down over the quarter. However, until she sees the inflection, she views shares as fairly valued trading near current levels and maintains a Neutral rating on the shares.
11/20/19
BARD
11/20/19
NO CHANGE
Target $58
BARD
Outperform
Kohl's price target lowered to $58 from $65 at Baird
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.
11/20/19
11/20/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Berry Petroleum (BRY) downgraded to Hold from Buy at Tudor Pickering, to Market Perform from Outperform at Wells Fargo, and to Underweight from Sector Weight at KeyBanc. 2. Kohl's (KSS) downgraded to Neutral from Buy at Goldman Sachs with analyst Alexandra Walvis saying that despite an acceleration of strategic initiatives and a "significant expansion" of promotional activity, Kohl's traffic and comparable sales results have underperformed expectations. 3. Woodward (WWD) downgraded to Market Perform from Outperform at Barrington with analyst Chris Howe saying he views the company's fiscal Q4 results as "mixed" and cites valuation for the downgrade. 4. Sherwin-Williams (SHW) downgraded to Hold from Buy at Edward Jones. 5. Castlight Health (CSLT) downgraded to Hold from Buy at Canaccord with analyst Richard Close citing its elevated churn risk which has seeped into all point solutions. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
JWN Nordstrom
$38.16

-0.18 (-0.47%)

11/12/19
LEHM
11/12/19
INITIATION
Target $36
LEHM
Equal Weight
Nordstrom initiated with an Equal Weight at Barclays
Barclays analyst Adrienne Yih initiated coverage of Nordstrom with an Equal Weight rating and $36 price target. The analyst cites the company's negative brick-and-mortar comps over the past 3 years as sales transition to the e-commerce channel as well as a branded product offering competing with less expensive alternatives and other distribution channels. Yih adds however that Nordstrom's sales growth still exceeds that of inventories, and its opening of the Manhattan flagship should "add meaningfully" to top-lines sales growth in the near term.
11/29/19
RAJA
11/29/19
NO CHANGE
RAJA
Holiday shopping season appears to have started out strong, says Raymond James
Raymond James analyst Matthew McClintock said his checks on Thursday evening indicate that physical store traffic was strong at both Best Buy (BBY) and Target (TGT), which he thinks "should be viewed as even more impressive than initial indications that e-commerce sales have been stronger than expected." He also noted that some retailers had such strong e-commerce traffic that website performance suffered, listing Facebook (FB), Nordstrom (JWN) and Costco (COST) as some examples. The Fly notes that the S&P Retail Index SPDR (XRT) may react today to headlines regarding checks on retail spending on Thanksgiving and Black Friday.

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