Kohl’s and Macy’s will report second-quarter earnings later this week. Telsey Advisory Group lifted its price targets for both department-store chains, but doesn’t think investors should snap up the shares.
Analyst Dana Telsey reiterated a Market Perform rating on Kohl’s (ticker: KSS) and Macy’s (M) on Monday, while lifting her price targets on the former to $63 from $60, and on the latter to $21 from $20. She notes that better-than-expected results from peers and a strong pandemic recovery bode well for both companies’ upcoming results, although other headwinds remain.
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