Kohl's (KSS) Estimates, PT Trimmed at Jefferies

Jefferies analyst Daniel Binder reiterated his Buy rating on Kohl's (NYSE: KSS) but trimmed estimates and his price target of $66.00 (from $67.00) ahead of the analyst meeting.

Binder said, "We think shares reflect expectations of a choppy qtr, but we sense investors remain optimistic around key sales initiatives, including new brands, the loyalty program rollout and beauty resets. We are also optimistic for improvement in the coming quarters and maintaining our Buy rating. However, we are forecasting Q3 SSS at flat (+1% prior) as we believe the back half of September softened, followed by some improvement In early October."

The firm trimmed FY 2014 EPS from $4.35 to $4.33 and FY 2015 EP from $5.13 to $5.11.

For an analyst ratings summary and ratings history on Kohl's click here. For more ratings news on Kohl's click here.

Shares of Kohl's closed at $59.09 yesterday.

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