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Fly News Breaks for May 26, 2015
KORS
May 26, 2015 | 07:23 EDT
Canaccord said they remain cautious on Michael Kors as they believe retail comps continue to decelerate into Q4. The firm also said data suggests its stores suffer from tepid traffic due to soft tourism trends in key markets and the pervasive distribution of the brand across channels. Canaccord reiterated its Hold rating and lowered its price target to $63 from $76 on Michael Kors shares.
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