Skip to main content

Market Overview

Kohl's Analyst Drops Bear Stance On Vaccine Tailwinds, Activist Presence

Share:
Kohl's Analyst Drops Bear Stance On Vaccine Tailwinds, Activist Presence

Kohl's Corporation (NYSE: KSS) announced better-than-expected quarterly results Tuesday, driven mainly by upbeat gross margins.

Recent COVID-19 vaccine developments provide tailwinds for the company, according to Gordon Haskett.

The Kohl's Analyst: Chuck Grom upgraded Kohl's from Underperform to Hold and announced a $28 price target. 

The Kohl's Thesis: Although the department store space continues to face challenges, the company has several strategic initiatives that could lead to top- and bottom-line growth through 2021, Grom said in an upgrade note.

"The presence of both Ancora Advisors and Legion as shareholders has created some pressure on the C-Suite up in Menomonee Falls," the analyst said.

Both activist investors were part of the team that proposed changes at Bed Bath & Beyond Inc. (NASDAQ: BBBY) in April 2019, he said. 

“While we don’t think there are any 'silver bullets' to correcting Kohl’s multi-year traffic drought overnight ... we do think that a focus on loyalty and leaning into categories of strength (vs. legacy areas of weakness) seems appropriate,” he said. 

KSS Price Action: Shares of Kohl's were down 1.88% at $28.65 at last check Wednesday. 

Latest Ratings for KSS

DateFirmActionFromTo
Mar 2022Telsey Advisory GroupMaintainsMarket Perform
Mar 2022Credit SuisseMaintainsNeutral
Feb 2022Gordon HaskettDowngradesBuyAccumulate

View More Analyst Ratings for KSS

View the Latest Analyst Ratings

 

Related Articles (KSS)

View Comments and Join the Discussion!

Posted-In: Chuck Grom Gordon HaskettAnalyst Color Upgrades Price Target Analyst Ratings Best of Benzinga

Latest Ratings

StockFirmActionPT
SEDGB of A SecuritiesMaintains411.0
PTLOPiper SandlerMaintains28.0
AOUTLake StreetMaintains26.0
RAPTPiper SandlerMaintains52.0
OCXLake StreetMaintains6.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com