Market Overview

Vetr Urges Buy On Discounted Kate Spade

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The Vetr crowd on Wednesday upgraded their rating for Kate Spade & Co (NYSE: KATE) from 4 stars (Buy), issued nine days ago, to 5 stars (Strong Buy). Crowd sentiment at the time of the upgrade was mostly positive, with 83 percent of Vetr user ratings bullish.

After maintaining a period where the stock hit a 10-month high just over $24 through the start of 2017, Kate Spade resumed trading at the level it was at before the company announced it was reviewing potential acquirers. The stock dropped back below $20 on Tuesday morning on news that the retailer intended to further negotiate the proposed offer by Coach Inc (NYSE: COH). The stock has remained flat since then, closing at $19.47.

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Currently, the Vetr crowd's average target price for Kate Spade was up at $25.44, which is above the average analyst target price of $23.63. Less than 2 percent of Vetr users are holding KATE in their watch lists

Latest Ratings for KATE

DateFirmActionFromTo
May 2017Wells FargoDowngradesOutperformMarket Perform
May 2017KeyBancDowngradesOverweightSector Weight
May 2017NomuraDowngradesBuyNeutral

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View the Latest Analyst Ratings

 

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Posted-In: VetrAnalyst Color Upgrades Crowdsourcing Analyst Ratings General

Latest Ratings

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CECENeedhamMaintains10.0
MERCRBC CapitalDowngrades9.0
SGHRosenblattInitiates Coverage On45.0
VECOOppenheimerInitiates Coverage On18.0
NVAXJP MorganUpgrades46.0
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