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Fly News Breaks for February 3, 2016
COH, KATE, KORS
Feb 3, 2016 | 09:22 EDT
Although Michael Kors' (KORS) results beat expectations, worries about overdistribution of the company's products remain intact,,according to Wedbush. The firm raised its price target on the shares to $52 from $39 but keeps a Neutral rating on the stock. It recommends that investors buy Kate Spade, as the firm thinks the stock has a positive read through from Coach (COH) and Michael Kors, while Kate Spade is likely to be the biggest beneficiary of a sentiment turn in the space, given its stronger growth trends, according to the firm.
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