Barclays Maintains an 'Overweight' on Kohl's (KSS); Review of 3Q11
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Price: $17.60 +1.56%
Rating Summary:
6 Buy, 21 Hold, 9 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
6 Buy, 21 Hold, 9 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Overweight' on Kohl's (NYSE: KSS) price target of $65.00.
Barclays analyst says, "Kohl's reported 3Q11 EPS of $0.80, $0.01 above our estimate. Sales increased 3.7% to $4.38 billion, with a 2.1% increase in comps in 3Q11. The company experienced a 5.2% increase in average transaction value, driven by a 9.5% increase in AUR, offset by a (4.3)% decrease in units. Price elasticity exceeded the company's expectation of a one-to-one ratio. In 4Q11, comps are expected up 2%-4%, with Dec. at the high end of expectations and Nov. at the low end. E-commerce contributed 100 bps of growth to comps in 3Q11, and is expected to represent a greater portion of the increase in 4Q."
"Given additional share repurchases and plans for 4Q11, we are raising our 2011 and 2012 EPS estimates to $4.50 (+22.8%) and $5.30 (+18.0%) from $4.47 and $5.15, respectively. Shares are still trading at only 10.2x."
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.
Barclays analyst says, "Kohl's reported 3Q11 EPS of $0.80, $0.01 above our estimate. Sales increased 3.7% to $4.38 billion, with a 2.1% increase in comps in 3Q11. The company experienced a 5.2% increase in average transaction value, driven by a 9.5% increase in AUR, offset by a (4.3)% decrease in units. Price elasticity exceeded the company's expectation of a one-to-one ratio. In 4Q11, comps are expected up 2%-4%, with Dec. at the high end of expectations and Nov. at the low end. E-commerce contributed 100 bps of growth to comps in 3Q11, and is expected to represent a greater portion of the increase in 4Q."
"Given additional share repurchases and plans for 4Q11, we are raising our 2011 and 2012 EPS estimates to $4.50 (+22.8%) and $5.30 (+18.0%) from $4.47 and $5.15, respectively. Shares are still trading at only 10.2x."
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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