Jefferies Sees Light Q1 SSS for Kohl's (KSS) But Likes the Stock

Jefferies reiterated a Buy rating and raised its price target on Kohl's (NYSE: KSS) from $53 to $55 although they expect Q1 SSS sales to be light but improving.

Analyst Daniel Binder notes, "Weather likely hurt Q1 and will probably put KSS sales below plan, but we think business improved as weather inflected late in the quarter. Any management commentary suggesting this could keep shares at these levels or better. Inventory position should improve through the year as business is managed more conservatively."

The firm cut Q1 estimates EPS from $0.66 to $0.60 and FY 2013 EPS estimates from $4.65 to $4.59.

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 $48.17 yesterday.

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