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Fly News Breaks for May 31, 2018
KORS
May 31, 2018 | 07:45 EDT
Citi analyst Paul Lejuez lowered his price target for Michael Kors to $69 and keeps a Neutral rating on the shares following yesterday's Q4 results. While the stock pullback is a "slight overreaction," the path to share upside "is not crystal clear," Lejuez tells investors in a research note. Further, while the company's free cash flow looks good, shareholders won't necessarily see that cash if management makes another acquisition, the analyst adds.
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