Piper Jaffray Reiterates OW Rating, $62 PT On KSS

Piper Jaffray is reiterating its Overweight rating and $62 price target in front of Kohl's Corporation KSS Q4 earnings release scheduled for February 24 before the market opens. “We expect Q4 EPS of $1.66, which is in line with consensus and at the high end of management's $1.65-1.66 range,” Piper Jaffray writes. “The potential initiation of a dividend and additional share repurchases could also be catalysts as shares remain near the low end of historical forward multiples. “In addition, we believe increasing e-commerce and private/exclusive brand penetration coupled with demonstrated pricing power should help offset rising sourcing costs.” Kohl's Corporation closed Tuesday at $52.23.