Morgan Stanley Sees Market Confusion Creating Buying Opportunity For Michael Kors
In a report published Friday, Morgan Stanley analyst Kimberly C. Greenberger reiterated an Overweight rating and $105.00 price target on Michael Kors (NYSE: KORS).
In the report, Morgan Stanley noted, “KORS sales and earnings growth lead the retail sector; we see high estimate achievability. KORS continues to capitalize on the design credibility and unique advantage created by founder Michael Kors' fame. We see multiple growth avenues from category and geographic expansion. Our outlook calls for a 19% 5-yr sales CAGR driven by rapidly expanding revenue across geographies, channels, and categories.
"We forecast a 23% bull case 5-yr EPS CAGR and believe the likelihood of KORS' bull case playing out is higher than that of any other stock we cover.”
Michael Kors closed on Thursday at $92.28.
Latest Ratings for KORS
|Nov 2016||Morgan Stanley||Downgrades||Overweight||Equal-Weight|
|Oct 2016||OTR GLobal||Upgrades||Negative||Mixed|
|Sep 2016||Guggenheim||Initiates Coverage on||Neutral|
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