In a report released Wednesday, William Blair analyst Jared Lubel downgraded Michael Kors KORS from Outperform to Market Perform.
Analysts at William Blair believe Michael Kors has continued room for growth, but it is beginning to mature. The company's surging performance in previous quarters created high expectations for investor sentiment.
Michael Kors' brand awareness in North America increased from 70 percent in 2011 to 89 percent in 2013, making its brand awareness more comparable to Coach COH
The note stressed the firm's call on Michael Kors is not based on the upcoming quarter results, which will be released on August 5.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
