Here's Why Kohl's Stock Is Crashing This Week
As of early Friday morning, shares of retailer Kohl's (NYSE: KSS) were down more than 13% this week. Much of that came yesterday, when the stock dropped 12.2%. Investors have been reacting to several items that point to a difficult environment, as well as a Bank of America analyst's take on the company.
Yesterday, analyst Lorraine Hutchinson moved her rating on the company down to what is effectively a sell recommendation, dropping her price target all the way to $48 per share, from a previous $75, as reported by Barron's. The analyst previously rated the stock a buy, resulting in a newsworthy double-downgrade. But the drop in the stock might have come less from the analyst's opinion alone as much as some evidence from a peer that her concerns are valid.
Source Fool.com