Kohl's stock recommended
August 27, 2001,
Days after Kohl's Corp. reported that second-quarter profits shot up by more than a third (see story on page 21), retail analyst George Strachan of Goldman Sachs put the red-hot retailer on his list of recommended stocks. He called Kohl's the highest-quality organic growth story in the entire broadlines sector.
Kohl's, Strachan added, is "smaller and more agile" than most of its competitors among department and chain stores, providing it with more flexibility in a persistently weak retail environment. "Once again, we expect Kohl's to run circles around the lumbering game plans of its competitors," he added.
Strachan set a 12-month price target of $70 for the retailer's stock, almost 28 percent higher than its recent trading price.