Deutsche Bank Downgrades Kohl's (KSS) to Hold after "Unacceptable" Comps

November 29, 2012 12:21 PM EST
Get Alerts KSS Hot Sheet
Price: $41.21 -0.41%

Rating Summary:
    8 Buy, 14 Hold, 5 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 5 | Down: 5 | New: 0
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Deutsche Bank downgraded Kohl's (NYSE: KSS) from Buy to Hold with a price target of $45.00 (from $62.00).

The firm comments, "We are having déjà vu this morning to 12/1/11 as KSS once again posted very soft, arguably unacceptable SSS in Nov. with a down 5.6% print – instilling fears that the modest improvement we saw in July-Oct. was not trend worthy. Importantly, while we don’t think the rest of 4Q will be as bad (as Nov.), it’s 100% hard to defend the stock with so many structural issues at play. Complicating matters, Street est’s are materially too high for 4Q12 and ‘13 – the latter of which we think could approach $4.00-$4.25, suggesting further downside in the stock. Accordingly, we are downgrading the stock to Hold."

For an analyst ratings summary and ratings history on Kohl's click here. For more ratings news on Kohl's click here.

Shares of Kohl's closed at $51.15 yesterday.

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