Kohl’s price target lowered to $25 from $26 at Guggenheim

Guggenheim lowered the firm’s price target on Kohl’s (KSS) to $25 from $26 and keeps a Buy rating on the shares. Given Q3 results, coupled with an “updated and subdued outlook” on discretionary spend at Kohl’s, the firm is reducing its FY24 and FY25 EPS estimates to $1.20 and $1.55 from $2.00 and $2.25, respectively. While “disappointed by these results,” the firm remains optimistic on the company’s strategic initiatives, the analyst tells investors.