2023-06-15 07:40:25 ET
Kohl’s Corporation ( NYSE: KSS ) was raised to Outperform from a prior Neutral rating, citing new CEO Tom Kingsbury as a key to their shift.
Kingsbury replaced former CEO Michelle Gass atop the company, beginning his tenure in February. TD Cowen expects his leadership could drive key changes at the company to allow for share appreciation. Namely, the bank’s analysts expect better overall execution, inventory and margin improvement, cost reductions, and increased focus on Sephora offerings in stores.
Given an undemanding valuation after years of underperformance, the analysts see notable potential upside if Kingsbury is indeed able to execute. Shares of Kohl’s rose 1.34% in premarket action on Thursday.
More on Kohl’s:
- Kohl's pops after earnings topper, reaffirmed full-year guidance
- Kohl's Shares Are Fairly Valued Despite Earnings Beat
- Kohl's: Key Data Point Just Ahead
- Which Retailers Stand To Gain The Most As Consumers Trade Down Due To Inflation?
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Kohl’s raised to Buy as TD Cowen eyes improved execution