Jefferies analyst Ashley Helgans maintained a Hold rating on Kohl’s today and set a price target of $20.00.
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Ashley Helgans has given his Hold rating due to a combination of factors. The company showed improvement in its third-quarter results, with better-than-expected comparable sales driven by increased transactions, particularly in digital and private label sales. However, there is still caution regarding the sustainability of these trends given the challenging macroeconomic environment and the anticipated highly promotional holiday season.
Management’s efforts to attract value-focused consumers through expanded private label offerings and coupon eligibility are promising, but further execution is needed to ensure these strategies can drive consistent growth. Additionally, while the credit card revenue showed some improvement, it remains below expectations, and the Sephora partnership, although strategic, has seen a slowdown in comparable sales. These mixed signals contribute to the Hold rating as the company navigates through these uncertainties.
In another report released today, TD Cowen also maintained a Hold rating on the stock with a $23.00 price target.