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Fly News Breaks for February 8, 2018
KORS
Feb 8, 2018 | 09:36 EDT
BMO Capital analyst John Morris raised his price target on Michael Kors to $65 and kept his Market Perform rating. Morris says the company has a habit of "beating lower expectations" and deems its Q4 EPS view as conservative. While the majority of the Q3 earnings beat was on lower SG&A expense, the analyst says he is positive on the company's execution of full price selling strategy as evidenced in its 100bp margin expansion.
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