Michael Kors Fiscal 2015 Q1 Earnings Analyst Roundup
Amid the company's fiscal 2015 first quarter earnings beat and "conservative" second quarter guidance, a number of analysts have issued notes describing their view of Michael Kors (NYSE: KORS).
Morgan Stanley - Overweight
"Michael Kors 91c bested Morgan Stanley/Consensus by 10c, but the six percent stock pullback suggests the market is putting too much faith in conservative second quarter margin guidance. We see continued upside to guidance and would buy the dip ahead of second half catalysts."
Nomura - Buy, $103 Price Target
"In the battle of the fundamental vs. the sentimental, fear is winning out as Michael Kors shares dropped more than six percent despite posting better-than-expected top-and bottom-line first quarter results. From our perspective, the impressive top-line expansion should have helped quench concerns of oversaturation."
Citigroup - Neutral, $87 Price Target
"We still view Michael Kors product position, multi-product portfolio, fashion innovation as extraordinary; however, our take is that the stock will continue to face pressure as expectations undergo a moderation cycle & investors look to ind greater visibility on intrinsic value."
Barclays - Underweight, $78 Price Target
"This quarter we were most focused on the margin story as we began to see the business model normalize to reflect markdowns and operating expense deleverage. However, we still expect North America could begin to see more of a near-term top-line slowdown."
Latest Ratings for KORS
|Jul 2015||BB&T Capital||Initiates Coverage on||Hold|
|Jul 2015||Buckingham Research||Downgrades||Buy||Neutral|
|Jul 2015||OTR Global||Downgrades||Positive|
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