Kohl's Corporation (KSS) saw its stock price plummet by 5.06% in Monday's pre-market trading session, following a significant downgrade from a major Wall Street firm. The sharp decline comes as investors react to the latest analyst assessment of the retail giant's prospects.

JP Morgan, one of the leading investment banks, has cut its price target for Kohl's from $9 to $7, signaling a more pessimistic outlook for the company. This substantial reduction in the price target suggests that JP Morgan analysts have become more cautious about Kohl's future performance and growth potential.

The downgrade from JP Morgan is likely to have sparked concerns among investors about Kohl's ability to navigate the challenging retail landscape. As a result, many shareholders appear to be reassessing their positions, leading to the significant sell-off observed in the pre-market trading. This move highlights the impact that influential analyst opinions can have on stock prices, especially for retail companies facing ongoing industry pressures.