Kohl's (KSS) stock is experiencing a remarkable pre-market surge on Tuesday, with shares skyrocketing 82.52% following a significant upgrade from a major Wall Street firm. This dramatic movement comes on the heels of Goldman Sachs raising its price target for the retail giant.
The catalyst for this extraordinary pre-market rally appears to be Goldman Sachs' decision to increase its price target for Kohl's from $5 to $7. This upgrade signals growing confidence in the company's prospects and has evidently sparked a wave of investor optimism. The substantial 40% increase in the price target suggests that analysts at Goldman Sachs see potential for significant improvement in Kohl's performance.
This pre-market surge builds upon positive momentum from the previous trading session, where Kohl's stock had already seen an 8.8% increase. The continued upward trajectory indicates that investors are reacting strongly to the improved outlook from Goldman Sachs, potentially reassessing their expectations for the retail chain's future performance in a challenging market environment.
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