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Fly News Breaks for August 8, 2018
KORS
Aug 8, 2018 | 11:50 EDT
Jefferies analyst Randal Konik raised his price target for Michael Kors to $93 from $90, while reiterating a Buy rating on the shares. The analyst recommends owning the stock given its "strong" brand, the large global TAM, the high margins that can further improve, the strong cash flow and the cheap valuation. Q1 demonstrated solid inventory control, improved sell-through, better gross margins, positive America's comps across the Michael Kors brand, he adds.
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