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Kohl's Upgraded on Better Inventory Management

Kohl's Corporation (NYSE:KSS) was upgraded by Bank of America Merrill Lynch from neutral to buy on management of inventory levels. According to the report, the potential growth in operating income for 2014 is substantially enhanced as a result of the retailer having a better on inventory levels. Relative to its peers, the bank believes that Kohl’s is trading at a discount. As a result, the price target was increased from $60 to $65 a share.