Kohl’s Corp. has been downgraded to neutral from buy at UBS due to concerns that the retailer’s efforts to grow the business won’t be enough for a turnaround. Kohl’s posted weak sales in earnings announced Thursday. “We think KSS dropped enough hints on its call that even the low end of the $4.40-$4.60 guide will be a stretch,” UBS said. The firm said a decline in the number of credit card purchases and rise in inventory led to its decision. UBS lowered its price target to $58 from $72 and its fiscal 2015 EPS estimate to $4.30 from $4.58. The current FactSet consensus for fiscal 2015 EPS is $4.35.
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