UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Michael Kors Holdings Before Tuesday Earnings Report

In a report published Monday, Jefferies reiterated its Buy rating on Michael Kors Holdings (NYSE: KORS), and raised its price target from $65.00 to $67.00.Jefferies noted, “Michael Kors reports 3Q earnings before the market opens on Tuesday, February 12. We expect a solid holiday quarter as the company continues to gain share with growing popularity and on trend merchandise. We like Michael Kors' accessible luxury brand positioning, early stage growth profile, and significant international expansion opportunity. Reiterate our Buy rating and raise PT to $67.”Michael Kors Holdings closed on Friday at $56.66.