BofA analyst Lorraine Hutchinson lowered the firm’s price target on Kohl’s (KSS) to $7 from $8 and keeps an Underperform rating on the shares after Ashley Buchanan, who became CEO in January, was terminated for failing to disclose conflicts of interest with a vendor. The company also announced preliminary Q1 guidance that was better than expected, but the firm thinks another management change in the midst of a volatile macro backdrop and already challenging sales rebuild will be “a distraction,” so it reiterates an Underperform rating and trims its target.
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Read More on KSS:
- Kohl’s price target raised to $4.50 from $4 at Goldman Sachs
- Kohl’s CEO firing related to steering business to romantic partner, WSJ says
- Kohl’s Stock (KSS) Surges After Kicking CEO Ashley Buchanan to the Curb
- Kohl’s CEO Terminated Amid Conflict Investigation
- Kohl’s board terminates CEO Ashley Buchanan for cause
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