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Kohl's price target upped to $100 at Jefferies as Amazon partnership ramps

Published 01/19/2018, 10:53 AM
© Reuters.  Kohl's price target upped to $100 at Jefferies as Amazon partnership ramps
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  • Kohl's (KSS +2.5%) moves higher after Jefferies raises its stock price target to $100 from $66, citing the company's partnership with Amazon (AMZN +0.3%) as a "win for both companies."
  • "We anticipate the pilot to roll out nationally and provide KSS stores with stronger traffic and is a nice added convenience for AMZN shoppers," writes Jefferies analyst Randal Konik.
  • KSS gets an added benefit from its stores being located off-mall where customer traffic is better, Konik says, expecting a further boost as peers such as J.C. Penney and Macy's (NYSE:M) shutter stores; he also thinks a lower corporate tax rate will benefit the company and drive earnings higher.
  • Now read: Amazon's Intrinsic Value


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