Kohl's Corp. (KSS.US) stock fell over 3.0% after Cowen downgraded the department store retail chain to market perform from outperform saying a “weakening and inflationary consumer backdrop” could drive EPS downside. Analyst Oliver Chen cut the stock price target by about 42%, to $35 from $60. "Unfortunately, we believe [Kohl's] is vulnerable to the pressure the middle income consumer is experiencing and this may drive less visibility into the company achieving the medium-term target of 7%-8% EBIT margin" Chen wrote.
Kohl's Corp. (KSS.US) - buyers failed to break above the resistance zone around $31.35, which coincides with 61.8% Fibonacci retracement of the upward wave launched in March 2020 and downward trendline. As long as price sits below, another downward impulse towards recent lows at $26.00 may be launched. Source: xStation5.
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