At Home Group Inc. shares rose 3.4% in Thursday trading after a Reuters report that Kohl’s Corp. approached the home retailer with an interest in acquiring it. Reuters says At Home has been exploring a sale, and this deal would benefit Kohl’s efforts to grow its customer base. “In our view, a foray into furnishings is risky and detracts from Kohl’s need to innovate its legacy apparel portfolio,” wrote CFRA in a note. CFRA analysis shows that the home decor and seasonal decor are categories that Amazon.com Inc. is gaining traction in. CFRA maintains its hold rating on Kohl’s stock and $68 price target. Kohl’s stock is down 1% in Thursday trading, and down 4.2% for the year to date. The S&P 500 index is down 15% for 2019 so far.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Latest posts by Market Watch (see all)
- MarketWatch First Take: The latest chapter in Patrick Byrne’s soap opera doesn’t change much for Overstock - August 22, 2019
- The Wall Street Journal: Sen. Tom Cotton says buying Greenland was his idea first - August 22, 2019
- Key Words: Trump may still unveil tax cuts before 2020 election, Kudlow says - August 22, 2019