Michael Kors up 5% After ISI Group Raises Price Target

The shares of Michael Kors Holdings KORS are trading higher on the session after ISI Group raised the company's price target to $33 and maintained a Buy rating. The company is now trading at all-time highs of $28 per share after going public on December 19. ISI Group stated that "Our industry checks indicate that Michael Kors had a strong holiday season and we believe there could be upside to our 3Q EPS estimate of $0.10." Michael Kors is currently trading at $28.00, a gain of $1.44 or 5.42%.