Multiple Analysts Comment On Michael Kors Following Earnings

On Tuesday, Michael Kors Holdings KORS reported financial results for the fiscal second quarter.
Despite beating top and bottom line estimates, shares of Michael Kors are down on Tuesday, possibly due to the company’s slightly weaker revenue guidance.

Following the results analysts at multiple firms offered commentary on Michael Kors Holdings.

Jefferies: Buy rating; $100 price target

Randal Konik feels the current pullback in share price is an attractive entry point. Konik stated, “We find KORS to be the most compelling name in the handbag/accessories space with lots of growth ahead”

Topeka: Buy rating; $120 price target

Dorothy Lakner is also bullish on KORS shares stating, “With EPS rising 40%+ on a tough compare and estimates rising on higher guidance, plus a new stock buyback confirming our view of this undervalued growth story, we would be buyers on weakness of KORS here.”

Deutsche Bank: Buy rating; $95 price target.
Piper Jaffray: Overweight rating; $98 price target

Overall, analysts remain bullish on shares of Michael Kors as the company offers an attractive valuation; offering larger growth while trading at a discount it its peers.

Shares of Michael Kors recently traded at $71.65 down 8.1%