Market Overview

UPDATE: ISI Group Raises PT to $70 on Michael Kors Holdings on Brand Transformation

Share:
Related KORS
Michael Kors, Coach Potential Suitors In Kate Spade Buyout
Kate Spade Is For Sale; Wunderlich Says 'We Believe It Will Happen'
Tracking David Einhorn's Portfolio - Q4 2016 Update (Seeking Alpha)

ISI Group reiterated its Buy rating on Michael Kors Holdings (NYSE: KORS) and raised its price target from $60 to $70.

ISI Group commented, "Given the stock's muted reaction to stellar 2Q results and a bullish intra-quarter update (“business is very strong everywhere in the US, Canada, Europe, and Japan”), we would be aggressive buyers of KORS today as the company continues to outpace expectations on virtually every metric, and looks poised to capitalize on strong consumer spending this holiday. We continue to believe the brand is in the midst of a powerful and lucrative transformation from fashion designer to authentic global lifestyle brand, and it is precisely during such evolutions when shareholders are most rewarded for taking risk investing in this type of “brandsformation” stock."

Michael Kors Holdings closed at $51.01 on Tuesday.

Latest Ratings for KORS

DateFirmActionFromTo
Feb 2017Evercore ISI GroupDowngradesBuyHold
Jan 2017PiperJaffrayDowngradesOverweightNeutral
Nov 2016Morgan StanleyDowngradesOverweightEqual-Weight

View More Analyst Ratings for KORS
View the Latest Analyst Ratings

Posted-In: ISI GroupAnalyst Color Price Target Pre-Market Outlook Analyst Ratings

 

Related Articles (KORS)

View Comments and Join the Discussion!