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KORS

Use CPRI

$70.05

4.445 (6.78%)

07:53
08/09/18
08/09
07:53
08/09/18
07:53

Michael Kors price target raised to $85 from $80 at Nomura Instinet

Nomura Instinet analyst Simeon Siegel raised his price target for Michael Kors to $85 saying yesterday's Q1 results showed top-line strength and meaningful margin expansion. Kors has been "showing remarkable strides as one of the best Shrink to Grow stories," but its multiple is lagging meaningfully behind peers, the analyst adds. He reiterates a Buy rating on the shares.

  • 12

    Sep

KORS Use CPRI
$70.05

4.445 (6.78%)

07/09/18
07/09/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. GameStop (GME) initiated with a Buy at Jefferies. 2. Michael Kors (KORS) initiated with a Buy at HSBC. 3. Weight Watchers (WTW) initiated with a Neutral at UBS. 4. U.S. Xpress Enterprises (USX) initiated with an Overweight at Morgan Stanley and JPMorgan, an Outperform at Wells Fargo, as well as a Buy at Stifel and BofA/Merrill. 5. Charah Solutions (CHRA) initiated with an Overweight at Morgan Stanley and First Analysis, a Buy at Stifel, and a Neutral at BofA/Merrill.This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/08/18
JEFF
08/08/18
NO CHANGE
Target $93
JEFF
Buy
Michael Kors price target raised to $93 from $90 at Jefferies
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.
08/09/18
MKMP
08/09/18
NO CHANGE
Target $74
MKMP
Neutral
Michael Kors price target raised to $74 from $68 at MKM Partners
MKM Partners analyst Roxanne Meyer raised her price target on Michael Kors to $74 after its Q1 earnings beat and raised FY19 guidance, saying the company is showing more evidence of sales stabilization as a result of product innovation and inventory management. Meyer notes that the positive comps should drive sustained sales growth and margin expansion, while also expressing more confidence in a 2020 inflection coming from reduced discounting. Meyer keeps her Neutral rating on Michael Kors, but adds that she will "look to get more constructive with continued evidence of improved fundamentals".
08/09/18
ADAM
08/09/18
NO CHANGE
Target $90
ADAM
Buy
Michael Kors price target raised to $90 from $84 at Canaccord
Canaccord analyst Camilo Lyon raised his price target on Michael Kors to $90 from $84 following solid Q1 results. The analyst said the beat was due to broad based sales, gross margins, expense leverage, and a positive tax rate. He said the key elements of his Buy thesis are in place and trending upwards, strong free cash flow is being deployed for buybacks, and the shares are at an attractive valuation. Lyon reiterated his Buy rating on Michael Kors shares.

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