Nomura Securities Maintains a 'Neutral' on Kohl's (KSS); Updated Thoughts on 3Q

Nomura Securities maintains a 'Neutral' on Kohl's (NYSE: KSS) price target of $52.00.

Nomura analyst, Paul Lejuez, said, "KSS has had good momentum the past two months and management seems to be focused on maintaining it. To be sure, KSS announced plans for an incremental $30MM in marketing spend in 4Q to help drive traffic in stores and online. We are raising our 4Q EPS from $1.90 to $1.99 and our F12E from $4.86 to $5.07, with ~$0.05 of the 4Q increase and ~$0.14 of the F12 increase driven by the lift from $250MM incremental share repo (vs. our est) in 3Q. We maintain a Neutral rating. Trading at 5.9x our F12E EBITDA (in line with the department store group), we do not believe the risk/reward is favorable."

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 $55.36 yesterday.

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