Kohl’s price target raised to $19 from $9 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Kohl’s (KSS) to $19 from $9 and keeps an Underweight rating on the shares. The firm exits the Q3 print “more constructive” on Kohl’s given what it says are “clear bright spots” from revised strategic initiatives, a solid beat and raise track record year-to-date and likely greater stability under a new permanent CEO. However, it thinks the market is “prematurely discounting an overly bullish out-year fundamental outcome that may not be achievable,” the analyst tells investors.