UPDATE: Morgan Stanley Reiterates on Michael Kors on Multiple Positive Factors

In a report published Wednesday, Morgan Stanley analyst Kimberly C. Greenberger reiterated an Overweight rating on Michael Kors KORS, and raised the price target from $97.00 to $105.00. In the report, Morgan Stanley noted, “KORS' cross category and global appeal supports our ‘best growth story in retail' thesis. Beat & raise quarter pushes our PT to $105 while the stock's 20x FY2e P/E looks inexpensive on 20%+ FY2e EPS growth. Reiterate O/W.” Michael Kors Holdings Ltd. closed on Tuesday at $89.91.