Jefferies Upgrades Kohl's (KSS) to Buy, Citing a Bet on Management

Jefferies upgraded Kohl's (NYSE: KSS) from Hold to Buy with a price target of $59 (up from $47).

The firm comments, "To a large extent, this is a bet on management, which we think recognizes its challenges and is addressing price, marketing, and product content. Shorter term, we think inventory flow is improving as stores transition to spring. We believe the transition was particularly difficult this year due to winter clearance late in the season, combined with a lack of spring units in the store to capitalize on the early break in weather."

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 $49.05 yesterday.

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