Jefferies Starts Michael Kors (KORS) at Buy, Likes Early Stage Growth Profile

Jefferies initiates coverage on recent IPO Michael Kors (NYSE: KORS) with a Buy rating and $35 price target.

The firm comments, "We like Michael Kors' accessible luxury brand positioning, early stage growth profile and significant international expansion opportunity. We view the current risk/reward as favorable and initiate coverage with a Buy rating and $35 12-month price target."

Jefferies acted as co-manager in KORS' December IPO.

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 $29.76 yesterday.

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