Why Kohl's Stock Popped Today
Kohl's (NYSE: KSS) might be considered a meme stock currently, but on Wednesday its share price rise wasn't necessarily due to social media posts or other online commentary. Several analysts provided updates on the retailer, with most featuring price target increases. Investors took these positive takes to heart, trading the stock up by almost 8% on the day.
The analysts were reacting to Kohl's third-quarter results, which were published Tuesday morning. The company's net sales declined by almost 3% to $3.4 billion, with comparable sales down 1.7%. Net income not according to generally accepted accounting practices (GAAP) was $11 million for the period, or $0.10 per share.
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Source Fool.com
