Morgan Stanley Reiterates Overweight on Michael Kors

Morgan Stanley maintains Michael Kors Holding KORS at Overweight with a price target of $35. Morgan Stanley comments, “We are incrementally more bullish after today's news due to better than expected SSS momentum and mix shift to higher margin accessories. Addressing concerns, management says it has no intention of selling post near-term lock-up expiration.” KORS closed at $41.10 on Tuesday.