Nomura Securities Maintains a 'Neutral' on Kohl's (KSS); Reducing Estimates on Weak Start to Holiday

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

Nomura analyst, Paul Lejuez, said, "Last week KSS reported disappointing November sales results, down 6.2% vs. consensus and our estimate of +2%. We believe November results speak to the growing difficulty retailers are having driving traffic and sales in between key selling periods. We do not believe the environment will improve in December and January. We are reducing our 4Q11E from $1.99 to $1.90 vs. consensus $1.97 and guidance of $1.93-$2.04, primarily to reflect lower sales than previously forecast as well as some additional gross margin pressure. Our F11E is now $4.39 (vs. cons $4.44)."

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 $50.76 yesterday.

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