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Why Kohl's Stock Just Crashed 13%

TheMotleyFool

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Why Kohl's Stock Just Crashed 13%Photo, wide shot, wide-angle lens, Private equity firm, sunset photo at golden hour, photo by Thomas Heaton: https://img.theapi.app/temp/6a5872d8-cc25-46f8-b436-bf3db1953908.png

Shares of department store chain Kohl's (NYSE: KSS) went on sale Thursday -- crashing 13.6% through 10:20 a.m. EDT -- after analysts at Bank of America torpedoed the stock with the dreaded double downgrade.

Spinning on a dime, BofA dropped Kohl's stock all the way from buy to underperform (i.e. sell) and slashed its price target from $75 a share to just $48, as StreetInsider.com confirmed today.

Image source: Getty Images.

Source Fool.com

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