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Fly News Breaks for January 9, 2020
Jan 9, 2020 | 08:23 EDT
BofA analyst Lorraine Hutchinson downgraded Kohl's to Neutral from Buy after the company reported that its Holiday comps declined 0.2%, which she reads as suggesting that its new product launches, incremental traffic from the Amazon (AMZN) returns program and investments to drive sales are not enough to offset secular retail headwinds. She has lowered her FY20 estimates after the company updated its FY19 guidance and lowered her price target on Kohl's shares to $50 from $55.
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