Sarah Patel's Avatar
published in Blogs
Oct 03, 2021
Kohl's (KSS, $48.53) shares got double downgrade at Bank of America

Kohl's (KSS, $48.53) shares got double downgrade at Bank of America

Kohl's Corp.  shares got a rating downgrade of two notches from analysts at Bank of America, amid supply chain concerns.

Bank of America analysts Lorraine lowered her rating on the retail company’s shares  to "underperform", with a $48 price target.  Hutchinson cited the impact of supply chain disruptions to hurt the retailer's planned recovery.

"Kohl's top performing active brands Nike , Under Armour, Adidas, and Champion  are facing supply chain issues," Hutchinson said.. "According to Nike, the North America business will be most negatively impacted by supply chain delays in its 3Q, which corresponds to Kohl’s 1Q."

 

Related Tickers: KSS