November 3, 2014 11:27 AM | 1 min read |
Eric Beder of Wunderlich Securities reiterated on Monday a Buy rating on
Kate Spade & Company
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(NYSE: KATE) with a $36 price target ahead of the company's third quarter results due on Thursday.“We believe the last quarter has seen a material decline in investor sentiment for one of the few bona fide growth stores in the consumer space,” Beder wrote. “As such, we believe the company has the potential to once again demonstrate their ability to drive solid results and strong double-digit top-line growth.”Beder believes that the Street's earnings per share estimate of $0.02 is “achievable” and could in fact be conservative. During the third quarter,
Coach (NYSE: COH) continued to lose market share with a double-digit negative comp which may imply Kate Spade gained market share which may prove to be a catalyst for a “bounce back” quarter for Kate Spade.Beder concludes by stating that he is not expecting any changes to the company's long term margin goals and current year revenue and EBITDA guidance. The analyst adds that if management simply reiterates prior guidance it will be a plus.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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