Citi lowered the firm’s price target on Kohl’s (KSS) to $8 from $11 and keeps a Neutral rating on the shares. Based on business trends and the challenging macro environment, the company gave guidance that was well below consensus and also cut the dividend, the analyst tells investors in a research note. Citi is skeptical of the Kohl’s turnaround, and believes the company needs to close more stores.
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