UPDATE: William Blair Downgrades Michael Kors

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.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorDowngradesAnalyst RatingsJared LubeWilliam Blair
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!