Gordon Haskett upgrades Kohl's to Buy with $27 price target
Gordon Haskett of Haskett Research raised Kohl's (KSS) from Hold to Buy, setting a $27 price target. The upgrade sparked a 12% jump in the stock price. Haskett cited a slowdown in traffic declines and a modest sales slip in the latest quarter as signs of a turnaround. The analyst’s target implies about an 18‑times forward earnings multiple, well above the Wall Street consensus of $19.
Why it matters
The higher target and implied forward‑earnings multiple suggest a more optimistic valuation than the market consensus, which could attract additional buying pressure. Investors will watch Kohl's upcoming Q3 results to see if the traffic improvement translates into sales growth.
Key facts
- 1Gordon Haskett upgraded Kohl's to Buy from Hold. seekingalpha.com
- 2Kohl's shares jumped 12% after the upgrade. finance.yahoo.com
- 3Haskett set a price target of $27, compared with the Wall Street average target of $19. finance.yahoo.com
- 4The $27 target works out to about 18x forward earnings, versus 15x forward earnings at the close and a five‑year average of 13x. finance.yahoo.com
- 5Foot‑traffic tracker Placer.ai reported Kohl's visits were 9.6% above their recent average on sale days. finance.yahoo.com
- 6In the second quarter ended Aug. 1, Kohl's net sales slipped 0.9% and gross margin rose 305 basis points to 43.0%. finance.yahoo.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.