Deutsche Bank Downgrades Kohl's (KSS) to Hold; Taking Profits Post ~15% Move Since Mid-September

Deutsche Bank downgraded Kohl's (NYSE: KSS) to Hold with a new price target of $53.00.

Deutsche analyst says, "We downgrade KSS for 3 reasons. First, as previously outlined, KSS hi-low promotional strategy appears to have hit a ceiling with add'l promotions yielding less returns/sales than in the past with greater volatility. Second, Nov's soft SSS is eerily reminiscent of TGT's weak Dec. in '10 - with both reports perplexing. Third, in the NT, on the weather front, Dec. is forecast to be the mildest in 5 years with temp's averaging 5 degrees warmer YOY through Jan. 7th. Net, we think KSS sits in purgatory until we see more consistency on the comp front."

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 $50.36 yesterday.

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