Why Kohl's Stock Lost Almost 5% of Its Value Today
Even for a stock in the battered retail sector, Kohl's (NYSE: KSS) has really struggled this year. Unfortunately for the company and its investors, there was little relief in sight on Friday. The storied retailer's shares traded down by nearly 5% on the day, as they were hit by not one, not two, but three analyst price target cuts.
Admittedly, one of the trio of cutting analysts didn't make much of a slice. This was Deutsche Bank's Paul Trussell, who now feels Kohl's stock is worth $36 per share, down only slightly from his previous $37 estimation. He still believes in the retailer's potential, however, as he's maintaining his buy recommendation on the stock.
Trussell's colleague Omar Saad at Evercore ISI is more of a bear. Saad cut his price target to $32, well below his previous level of $45. He's also keeping his recommendation intact, only it's a less positive in line (hold).
Source Fool.com
