Michael Kors (KORS) Decline 'Much Ado about Nothing' - Topeka

Topeka Capital reiterated a Buy rating on Michael Kors (NYSE: KORS) with a price target of $117. Analyst Dorothy S. Lakner called the recent decline in share "much ado about nothing"

"The recent downdraft in KORS seems to us to have been based on a lot of panic and very little evidence, leading us to reiterate our Buy rating. Our channel checks, both in stores and online, suggest that there has been scant markdown and clearance activity in the brand, contrary to some reports. We see a still hot brand at a more attractive price, especially given growth prospects far above the rest of the industry," she said.

For an analyst ratings summary and ratings history on Michael Kors click here. For more ratings news on Michael Kors click here.

Shares of Michael Kors closed at $81.06 yesterday.

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