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Kohl's: Jefferies downgrades stock

(CercleFinance.com) - Jefferies has downgraded its rating on Kohl's from "buy" to "hold," while cutting its corresponding target price from 65 dollars to 52 dollars, with it stating "Poor Comps & Margin Declines Continue".

In its research note, the broker highlights the weakness of key categories, as well as market share losses, saying "we see comps continuing to underwhelm and margins declining".

Although it appreciates management's initiatives to incite people into stores, such as its partnership with Amazon, it underlines that "results continue to be muted, regardless of the multiple self-help initiatives in place".

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