Kohl's (KSS) shares experienced a dramatic surge in pre-market trading on Tuesday, soaring by an impressive 82.52%. This substantial rally comes on the heels of a significant upgrade from a major Wall Street firm.
The catalyst for this remarkable pre-market jump appears to be Goldman Sachs' decision to raise its price target for Kohl's. The investment bank increased its target from $5 to $7, signaling increased confidence in the retailer's prospects. This upgrade has evidently sparked renewed investor interest in Kohl's stock.
While the exact reasons behind Goldman Sachs' more optimistic outlook weren't immediately clear, such a significant price target revision often reflects improved expectations for a company's financial performance or strategic direction. Investors seem to be reacting strongly to this positive assessment, driving the stock to new heights in early trading. As the market opens, it will be interesting to see if Kohl's can maintain this momentum throughout the regular trading session.
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