Jefferies Cuts Kohl’s Price Target to $15, Maintains Hold Rating

Core Viewpoint - Jefferies has lowered Kohl's price target to $15 from $22 while maintaining a Hold rating, citing EBIT growth in Q4 despite weak comparable sales [1] Group 1: Financial Performance - Kohl's demonstrated EBIT growth in the fourth quarter, which is a positive sign despite facing weak comparable sales [1] - The company's earnings outlook appears achievable, with guidance suggesting potential improvement in comparable sales for the fiscal year [1] Group 2: Market Strategy - Kohl's is focusing on increasing store traffic through enhancements in product assortment and in-store experience, as average basket sizes remain flat [2] - The firm notes that continued promotional activity and investments may limit the upside potential for Kohl's shares [2] Group 3: Investor Sentiment - Investors are expected to remain cautious until Kohl's shows stronger execution, particularly due to its exposure to value-oriented consumers [2]