Kohl’s is rising early Monday after an upgrade from
UBS, which argued that the department-store chain will be able to compete more effectively because of the industry changes brought about by Covid-19.
Analyst Jay Sole raised his rating on Kohl’s (KSS) to Neutral from Sell and nearly tripled his price target to $42 from $15. In a Jan. 11 note, he wrote that the pandemic’s shakeout of the retail landscape allowed the company to win its new partnership with LVMH Moët Hennessy-Louis Vuitton’s (LVMH.Italy) Sephora cosmetics chain. He said that will prove to be “transformative,” an opinion other analysts share as well.