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Fly News Breaks for May 8, 2017
KATE, COH, KORS
May 8, 2017 | 11:45 EDT
Jefferies analyst Randal Konik is pleased with this morning's announcement as he believes Coach (COH) is the right buyer for Kate Spade (KATE). Michael Kors' (KORS) brand turnaround should be its first priority and with the stock in such "deep value territory," share repurchases represent a better alternative for rewarding investors, Konik tells investors in a research note. He estimates Kors could repurchase nearly half of its current market cap over the next few years.
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