Kohl’s Stock Gets an Upgrade Because the Sephora Deal Is a Transformation

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Kohl’s stock was climbing again Wednesday morning, after jumping more than 13% on Tuesday, following news that Sephora would be coming to the department store chain.

Telsey Advisory Group’s Dana Telsey kept a Market Perform rating on Kohl’s, but raised her price target to $40 from $29, writing that there is a “lot to like about this partnership from Kohl’s perspective. The agreement furthers Kohl’s strategy to lean into more relevant growth categories while complementing its shift towards casual and active.”

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