Goldman Sachs Boosts Price Target for Kohl’s; Still a “Neutral” (KSS)

Department store operator Kohl’s Corporation (KSS) on Monday caught some positive commentary from analysts at Goldman Sachs.

The firm maintained its “Neutral” rating on KSS but lifted its price target from $51 to $53, suggesting a 6% upside to the stock’s Friday closing price of $50.03.

A Goldman analyst commented, “We still believe that a sustained turn at Kohl’s requires more time to correct (reflected in our Neutral rating); however, we think the combination of easy year-ago comparisons, a weather break, JCP’s share donation, sharper prices and dampened investor expectations will likely create a reasonable risk/reward scenario over the next few months.”

Kohl’s shares rose 99 cents, or +2%, in premarket trading Monday.

The Bottom Line
Shares of Kohl’s (KSS) have a 2.56% dividend yield, based on last night’s closing stock price of $50.03. The stock has technical support in the $46 price area. If the shares can firm up, we see overhead resistance around the $52-$54 price levels.

Kohl’s Corporation (KSS) is not recommended at this time, holding a DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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