Goldman Sachs is bearish on Kohl's Corporation ( NYSE: KSS ) with a Sell rating on the department store stock reinstated.
Analyst Brooke Roach noted competitive pressures are most intense in the sector for the Kohl's ( KSS ) brand, with its lifestyle and active positioning in direct competition with market share winners that offer more compelling premium product or steeper value like off-price players Target ( TGT ) and Dick's Sporting Goods ( DKS ).
"While expectations are low and compares easy, we see risk of ongoing market share loss and inventory overhangs in 2023 and view KSS as a relative underperformer."
The rating on Kohl's ( KSS ) is worse than the Buy rating Goldman has on Macy's ( M ) and Hold rating on Nordstrom ( JWN ).
Shares of Kohl's ( KSS ) fell 1.30% in early trading to $31.20 vs. the 52-week trading range of $23.38 to $63.74.
Read the most recent breakdowns on Kohl's from Seeking Alpha authors.
For further details see:
Kohl's slips after Goldman Sachs turns bearish on the department store stock