Market Overview

UPDATE: Piper Jaffray Reiterates Overweight Rating, Raises PT on Michael Kors Holdings

Related KORS
Michael Kors Holdings Ltd, Ralph Lauren Corp Made Social Media Impact At New York Fashion Week
US Stock Futures Flat Ahead Of Economic Data
Kors Investors Fret About Shrinking Margins (Fox Business)

In a report published Friday, Piper Jaffray & Co. reiterated its Overweight rating on Michael Kors Holdings (NYSE: KORS), and raised its price target from $61.00 to $63.00.

Piper Jaffray noted, “We are raising our estimates for Q2 and beyond to reflect the robust underlying business trends. We believe long-term shareholders are exploring the upside scenarios to existing models to gain comfort with current valuation. We believe there are a number of scenarios which on the high-end could support a case that our FY14E EPS of $1.85 could be achieved in the next four quarters, implying FY14 could be closer to the mid-$2/range. To achieve sustainable top-line growth, we believe the company will need to continue to make investments to fuel brand awareness, create customer acquisition and drive loyalty.”

Michael Kors Holdings closed on Thursday at $53.43.

Latest Ratings for KORS

DateFirmActionFromTo
Aug 2014BarclaysMaintainsUnderweight
Aug 2014CitigroupMaintainsNeutral
Aug 2014NomuraMaintainsBuy

View More Analyst Ratings for KORS
View the Latest Analyst Ratings

Posted-In: Piper Jaffray & Co.Analyst Color Price Target Analyst Ratings

 

Related Articles (KORS)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters