UPDATE: Barclays Starts Michael Kors (KORS) at Overweight; All The Talk
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Price: $61.63 +0.11%
Rating Summary:
15 Buy, 2 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
15 Buy, 2 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade KORS Now!
(Updated - August 13, 2012 2:05 PM EDT)
Barclays initiates coverage on Michael Kors (NYSE: KORS) with an Overweight. PT $55.00.
Analyst, Robert S. Drbul, said, "The company has demonstrated industry-leading momentum, with revenue growth of 62.1% in FY12, including comps up 39.2%. We believe KORS can generate at least 20%-25% revenue growth and 25%-30% EPS growth over the next 3 - 5 years."
Drbul sees retail stores expanding from the current 237 to 600 (400 in N. America, 100 in Europe and 100 in Japan). Currently, KORS total international revenue is only 9%, whereas Coach (NYSE: COH) is 30% and Polo (NYSE: RL) is 36%. Point being, there's lots of opportunity for growth with wholesalers and its own retail stores.
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 $42.32 yesterday, with a 52 week range of $23.51-$50.69.
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Barclays initiates coverage on Michael Kors (NYSE: KORS) with an Overweight. PT $55.00.
Analyst, Robert S. Drbul, said, "The company has demonstrated industry-leading momentum, with revenue growth of 62.1% in FY12, including comps up 39.2%. We believe KORS can generate at least 20%-25% revenue growth and 25%-30% EPS growth over the next 3 - 5 years."
Drbul sees retail stores expanding from the current 237 to 600 (400 in N. America, 100 in Europe and 100 in Japan). Currently, KORS total international revenue is only 9%, whereas Coach (NYSE: COH) is 30% and Polo (NYSE: RL) is 36%. Point being, there's lots of opportunity for growth with wholesalers and its own retail stores.
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 $42.32 yesterday, with a 52 week range of $23.51-$50.69.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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