Kohl's (KSS) - Get Report pullback could be a prime opportunity for bargain shoppers on Thursday.

Shares of the Wisconsin-based department store retailer have dropped in today's trading amid news of slower-than-expected sales performance in the critical the year-end holiday season, falling over 10% from Wednesday's close at its lowest point.

The drop coincides with pain in the overall retail sector that has left like Macy's (M) - Get Report stock down nearly 20% at daily lows, dragging down the S&P Retail ETF (XRT) - Get Report .

However, Action Alerts PLUS holding Kohl's stock could be a diamond in the rough retail sector for stock pickers, as its punishment is not in line with its crime according to analysts and investors. As such, the pullback can be viewed as an opportunity rather than a setback.

"KSS remains Cowen's favorite department store pick as we believe the retailer is further along in making changes to its business given the retailer's more mature loyalty program, attractive product exposure, better positioned store base, and digital excellence," Cowen analyst Oliver Chen wrote in a research note. "Cowen is surprised by the stock weakness [on Thursday] as comps were overall robust and updated FY18 guidance was above the Street."

He maintained his "Buy" rating for the stock and an $82 price target, suggesting significant upside from the stock's slide on Thursday.

Jefferies analyst Randal Konik added to the defense of the falling retailer, advising buying on weakness on Thursday.

"We are buyers given traction in proprietary brands, share gains from peer closings, thoughtful traffic-driving partnerships with Amazon (AMZN) - Get Report , omni initiatives & favorable off-mall real estate," he wrote. "We see inventories remaining lean and turns increasing while foot traffic should improve as competitors close doors."

Konik set an even more aggressive price goal, touting a target of $95 per share.

The recently extended death throes of Sears (SHLD) could certainly throw traffic toward Kohl's, as the once prominent retailer still represented over $11 billion in sales over the last year. The addition of sales would only add to the boost Kohl's has already received from the exit of Toys R' Us from the retail marketplace.

Action Alerts PLUS, which holds Kohl's stock in Jim Cramer's charitable trust, saw the pullback as possibly another opportunity to add to a position that has garnered the portfolio solid gains throughout 2018 and remains a positive position for the trust.

Part of the stock's still positive status was the AAP's team's foresight ahead of the company's upgraded sales forecast, as the team trimmed its position on both Monday and Wednesday.

As the stock is rated a "Two" for the team, indicating a buying opportunity amid pullbacks, the buying thesis may be coming back into play amid what the team called an "overreaction."

"We didn't sell everything because we believe in CEO Michelle Gass and management's execution," the team noted. "This was confirmed by management's ability to produce positive numbers off a difficult year-over-year comp as well as raise to the lower end of its full-year adjusted earnings per share outlook -- but we still exhibited discipline to price."

The team is awaiting a trigger to their buying level, which the stock has approached amidst its down day.

To find out when Action Alerts PLUS team is buying and selling Kohl's, click here.

(This article originally appeared at on Real Money, our premium site for active traders. Click here to get great columns like this from Jim Cramer and other writers even earlier in the trading day.)

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Action Alerts PLUS

, which Cramer co-manages as a charitable trust, is long KSS and AMZN.