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Fly News Breaks for April 20, 2015
KATE, KORS
Apr 20, 2015 | 08:18 EDT
Mizuho analyst Betty Chen downgraded Michael Kors (KORS) to Neutral from Buy after the firm's online survey of 342 U.S. women indicated a slowdown in purchases during the past three months. Shoppers are pointing to a lack of "fashion differentiation" as a reason for buying less Kors products in the next 12 months, Chen points out. She dropped her price target for shares to $70 from $80. The survey was more favorable for Kate Spade (KATE), a Buy rated stock by Chen
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