Corinna Freedman of Wedbush Securities Thinks That Kate Spade & Co Is A Buy

Speaking on

Corinna Freedman of Wedbush Securities said that today's sell off in Kate Spade & Co

was an overreaction and that this is a great opportunity to buy the stock. Kate Spade

. Corinna Freedman explained that the reason behind the sell off was a line in the presentation that said that the company is potentially pushing its EBITDA margin goal from fiscal year 2016 to fiscal year 2017. The management didn't say that it is unattainable, they just said that there is a potentiality. Kate Spade reported a revenue growth of 55% and it had same store square footage growth of 40%. When you compare that to Michael Kors Holdings Ltd

Kate Spade is in a better place than Kors was in its trajectory. Corinna Freedman is a buyer of the stock because the core story hasn't changed.