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Fly News Breaks for May 27, 2015
KORS
May 27, 2015 | 12:24 EDT
As previously reported, BofA Merrill Lynch analyst Robert Ohmes downgraded Michael Kors to Neutral from Buy and lowered his price target to $60 from $100, noting that its global growth is slowing more rapidly than expected. Ohmes said he had been aware of the risk that North America could stay soft in FY16 prior to the company's report and guidance, but the expectation for international same-store-sales to decelerate is now a key concern.
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