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Fly News Breaks for February 17, 2017
KATE
Feb 17, 2017 | 08:22 EDT
CLSA analyst Rick Patel raised his price target on Kate Spade to $23 from $21 but downgraded the stock to Underperform from Outperform, stating that he benchmarks Kate with Tumi, which was acquired by Samsonite for 13.6x LTM EBITDA. He adds that he views the abbreviated conference call and lack of Q&A as signs the company is "actively in negotiations."
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