UPDATE: Deutsche Bank Initiates Michael Kors at Buy on Growth Trajectory

In a report published Monday, Deutsche Bank analyst Dave Weiner initiated coverage on Michael Kors KORS with a Buy rating and a price target of $70.

In the report, Deutsche Bank cited, “the Kors global lifestyle brand has one of the best growth trajectories in the sector. Key drivers: (1) huge global accessories share gains, (2) an impressive NA retail store runway, (3) continued F14 productivity lift via shop-in-shop conversions, and (4) tight promotions.”

Michael Kors closed Monday at $57.10.