Kohl’s price target lowered to $13 from $17 at JPMorgan

JPMorgan lowered the firm’s price target on Kohl’s (KSS) to $13 from $17 and keeps an Underweight rating on the shares. The company reported a Q3 miss and lowered outlook, the analyst tells investors in a research note. The firm says Kohl’s down 9.3% same-store-sales decline decelerated on a two-year stacked basis to down 14.8%, representing the 11th consecutive quarter of negative same-store-sales. JPMorgan’s work points to a sequential slowdown in September and October tied to unfavorably warm weather, hurricanes and a headwind leading up to the U.S. election.