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Fly News Breaks for August 3, 2015
KORS
Aug 3, 2015 | 07:53 EDT
Canaccord said it remains cautious on Michael Kors heading into the company's earnings report on Thursday. The firm believes the sluggishly negative retail traffic trends from last quarter persisted into Q1, leading to a supply/demand imbalance. Canaccord lowered its estimates and price target to $45 from $48 and maintained its Hold rating on Michael Kors shares.
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