Michael Kors A Key 'Powerhouse' Brand, According To Bank Of America

In a note out Wednesday, Bank of America analyst Robert F. Ohmes commented on Michael Kors Holdings Ltd KORS following a recent mall tour.

"KORS was highlighted as a “powerhouse” by Macy's during our Holiday Mall Tour. Traffic and sell-thrus appeared strong at both full-price stores and Macy's shop-inshops compared to peers. KORS remains a Top Pick and has a number of strong near-term momentum indicators that could provide upside to our F3Q15 estimates."

Some key takeaways;

1. "one of the strongest Black Friday performances relative to peers, in our view.
2. Google Trends US “Michael Kors” searches re-accelerated through November and are trending higher y/y into December.
3. is winning the millennial mindshare race with strong intent to buy over the next 12 months, according to our Specialty Retail team's recent handbag survey.
4. has a top 5 social media following globally and innovating new ways to monetize its 22.7 million followers."

Bank of America has a Buy rating on Michael Kors and a $120 price target. Shares closed Tuesday at $76.32, implying 57.23 percent upside.