Kohl’s Stock Keeps Falling as Wall Street Turns More Bearish

Kohl’s (KSS) shares slumped Wednesday, extending recent losses as some analysts said they think it could keep falling.

The retailer’s stock dropped roughly 6% to close at $8.61 Wednesday, leaving the stock down nearly 30% for the week so far, near its lowest levels since the 1990s. It’s lost about two-thirds of its value in the past 12 months.

The company’s new CEO Ashley Buchanan on Tuesday detailed plans for a turnaround in 2025. However, some Wall Street analysts warned the struggling retailer could still face a long and hard road to recovery.

Bank of America analysts told clients Wednesday that “a sales rebuild will be challenging given the tough consumer environment.” Kohl’s short-term efforts could improve the customer shopping experience, they said, but due to long lead times, product-based changes could take longer.

The analysts slashed their price target for the stock to $8 from $15, suggesting it could fall another 7%. That’s slightly below the average of analysts surveyed by by Visible Alpha at $9.