Kohl’s price target lowered to $23 from $28 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on Kohl’s to $23 from $28 and keeps a Market Perform rating on the shares. The company reported a “disappointing” start to the year, with softer sales and greater expense deleveraging resulting in a “sizable” earnings shortfall, the analyst tells investors. Q1 results and the outlook reduction mostly reflect the ongoing challenges the company faces as it looks to stabilize and turn around in a difficult macro-operating environment, the firm adds.