Market Overview

UPDATE: ISI Group Raises PT to $70 on Michael Kors Holdings on Brand Transformation

Related KORS
Coach-Burberry Merger: Where The Rumors Came From And How They Got Shot Down
The Market In 5 Minutes: Tesla's Announcement, Major Earnings And Jobless Claims
Cheap Stocks Vs. Value Traps - Update And Watchlist (Seeking Alpha)

ISI Group reiterated its Buy rating on Michael Kors Holdings (NYSE: KORS) and raised its price target from $60 to $70.

ISI Group commented, "Given the stock's muted reaction to stellar 2Q results and a bullish intra-quarter update (“business is very strong everywhere in the US, Canada, Europe, and Japan”), we would be aggressive buyers of KORS today as the company continues to outpace expectations on virtually every metric, and looks poised to capitalize on strong consumer spending this holiday. We continue to believe the brand is in the midst of a powerful and lucrative transformation from fashion designer to authentic global lifestyle brand, and it is precisely during such evolutions when shareholders are most rewarded for taking risk investing in this type of “brandsformation” stock."

Michael Kors Holdings closed at $51.01 on Tuesday.

Latest Ratings for KORS

Oct 2016OTR GLobalUpgradesNegativeMixed
Sep 2016GuggenheimInitiates Coverage onNeutral
Sep 2016CLSAInitiates Coverage onSell

View More Analyst Ratings for KORS
View the Latest Analyst Ratings

Posted-In: ISI GroupAnalyst Color Price Target Pre-Market Outlook Analyst Ratings


Related Articles (KORS)

View Comments and Join the Discussion!