Kohl’s Corporation is a structurally mispriced retailer facing one of the most extreme short interest buildups in U.S. markets, with over 53% of shares sold short and projected to exceed 66% following a modeled buyback. Simultaneously, its $5B+ real estate portfolio implies a NAV of ~$46/share, creating a hard asset floor under the equity.

Our research highlights three strategic re-rating paths: float compression, real estate monetization, and earnings normalization under new leadership. Using our internal AI-driven research platform and Bayesian valuation blending, we assign a $25 price target and a Strong Buy rating. In our view, this is a convex, event-driven trade where targeted corporate action could trigger a forced short unwind and material repricing.