UBS on U.S. Department Stores; Trimming Number on KSS, M, SKS, & JCP; JWN Remains Top Pick

UBS on U.S. Department Stores; Trimming Number on KSS, M, SKS, & JCP

Analyst, Michael Binetti, has lowered June same-store sales for some department stores including Kohl's (NYSE: KSS) from +1% to -4%, Macy's (NYSE: M) from +3% to +2%, Saks (NYSE: SKS) from +6% to +5%, JCPenney (NYSE: JCP) from -15% to $18.5%. Also on JCP, Binetti lowers FY12 EPS estimate from $1.51 to $1.04 and price target from $29 to $24.

For Nordstrom (NYSE: JWN), Binetti maintains June same-store sales at +6%, saying he believes the company has the best top line trajectory and upside for 2012-13. JWN remains a Top Pick.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Citi Upgrades United Microelectronics Corp (2303:TT) (UMC) to Buy 'with limited downside'
• Lockheed Martin (LMT) PT Raised to $487 at Deutsche Bank
• Goldman Sachs Upgrades Bank Central Asia Tbk (BBCA:IJ) (PBCRY) to Buy