UPDATE: Morgan Stanley Downgrades Kohl's (KSS) to Underweight, Valuation High Relative to Macy's (M)
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Price: $52.75 +1.15%
Rating Summary:
2 Buy, 12 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 24 | Down: 17 | New: 24
Rating Summary:
2 Buy, 12 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 24 | Down: 17 | New: 24
Trade KSS Now!
(Updated - March 19, 2013 12:03 PM EDT)
Morgan Stanley today downgraded Kohl's (NYSE: KSS) from Equalweight to Underweight with a price target of $42. Analyst Kimberly C Greenberger pointed out that shares of Kohl's trade at a 6 percent premium relative to Macy's (NYSE: M) using 2013 P/E.
"Valuation looks high," said Greenberger, "and likely negative EPS revision catalysts carry added downside risk."
Morgan Stanley is cautious on macros and anticipates negative 2013 Softline retail traffic. This is in part related to higher payroll taxes.
For an analyst ratings summary and ratings history on Kohl's (NYSE: KSS) click here. For more ratings news on Kohl's click here.
Shares of Kohl's closed at $48.54 yesterday, with a 52 week range of $41.35-$55.25.
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Morgan Stanley today downgraded Kohl's (NYSE: KSS) from Equalweight to Underweight with a price target of $42. Analyst Kimberly C Greenberger pointed out that shares of Kohl's trade at a 6 percent premium relative to Macy's (NYSE: M) using 2013 P/E.
"Valuation looks high," said Greenberger, "and likely negative EPS revision catalysts carry added downside risk."
Morgan Stanley is cautious on macros and anticipates negative 2013 Softline retail traffic. This is in part related to higher payroll taxes.
For an analyst ratings summary and ratings history on Kohl's (NYSE: KSS) click here. For more ratings news on Kohl's click here.
Shares of Kohl's closed at $48.54 yesterday, with a 52 week range of $41.35-$55.25.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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