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KORS

Michael Kors

$67.16

-5.51 (-7.58%)

14:09
09/24/18
09/24
14:09
09/24/18
14:09

Versace not seen by many as ideal M&A target for Michael Kors, says Wells Fargo

Wells Fargo analyst Ike Boruchow said many investors seem puzzled by the negative reaction today in shares of Michael Kors to reports that the company may be near a deal to acquire Italian fashion company Versace for $2.35B. He believes the weakness is due to the speed with which such a deal would be made following the purchase of Jimmy Choo just 11 months ago and the fact that on the surface the reported deal would appear to be fairly dilutive. Versace "doesn't make for an ideal M&A target in the eyes of many shareholders," the analyst added. Boruchow thinks an acquisition at the terms reported could be 30c-40c dilutive to EPS in year one, not inclusive of dilution should the company halt their current buyback program, representing a 7-9% impact to EPS in year one, which he notes is a similar percentage impact as what the stock is seeing today. Boruchow keeps a Market Perform rating on Michael Kors shares, which are down 7.7% to $67.12 in afternoon trading.

KORS Michael Kors
$67.16

-5.51 (-7.58%)

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.
08/09/18
NOMU
08/09/18
NO CHANGE
Target $85
NOMU
Buy
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.
08/17/18
PIPR
08/17/18
NO CHANGE
Target $71
PIPR
Neutral
Michael Kors price target raised to $71 from $66 at Piper Jaffray
Piper Jaffray analyst Erinn Murphy raised her price target for Michael Kors to $71 from $66 but maintained a Neutral rating following the company's Q1 results, telling investors in a research note that she continues to maintain her sidelined stance. Though she raised her estimates for Q2 and FY19/FY20 based on an improved Q1, she would like to see more evidence of a sustained improvement at retail.

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JNJ

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PANW

Palo Alto Networks

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SVA

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NWN

Northwest Natural Gas

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VFC

VF Corp.

$87.65

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LVS

Las Vegas Sands

$55.84

-0.32 (-0.57%)

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OXY

Occidental Petroleum

$72.24

-4.69 (-6.10%)

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AVMXY

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FB

Facebook

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JBHT

J.B. Hunt

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SHLD

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Wabtec

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TGE

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DIS

Disney

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MSFT

Microsoft

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OII

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JOE

Saint Joe Co.

$15.28

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PBR

Petrobras

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ADBE

Adobe

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