While previous boycott campaigns have inflicted notable damage on stocks such as Target (NYSE: TGT) and Bud Light over pride-themed clothing ranges and advertisements, the calls to boycott department store chain Kohl’s (NYSE: KSS) have waned with its price rebounding in recent weeks.
Kohl’s stock performance has faced some challenges this year, exhibiting a year-to-date decline of -$2.49 (-10.14%). However, there have been encouraging signs in recent times. Over the past month, the stock has witnessed a commendable uptick of +2.19 (11.02%), and in the past 5 days, it has shown a solid gain of +1.58 (7.71%).
On June 1 the stock hit a low of $17.89, the lowest price since May 22, 2020. However, on June 2, Kohl’s stock climbed about 12%, making up for almost all of its previous losses. During the last month, Kohl’s stock has demonstrated a considerable trading range, oscillating between $17.89 and $22.94. Presently, the stock is hovering closer to the upper end of this range.
It is worth noting that a resistance level is currently observed at $23.93, as indicated by a trend line within the weekly time frame.
KSS upward trend
Recent price movements have showcased a robust upward trend, prompting investors to exercise caution and consider waiting for a consolidation or pullback before contemplating an entry into KSS stock.
Furthermore, it is worth mentioning that Kohl’s stock presently finds itself trading in the lower segment of its 52-week range, which raises concerns. This is particularly noteworthy when considering that the S&P 500 Index is currently scaling new heights.
Interestingly, on Wall Street, KSS is given a ‘neutral’ rating based on 16 analysts stock ratings over the past 3 months with the majority of 8 opting to hold.
From 13 analysts offering a 1 year price forecast for Kohl’s have an average price target of $23.69 (+7.4%), with a maximum price target of $38 and a minimum of $16.
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Source: https://finbold.com/kohls-kss-stock-soars-over-10-in-a-month-defying-boycott/