Michael Kors (KORS) volatility elevated; shares up 13% on beat and better

Michael Kors (Nasdaq: KORS) is recently up $5.39 to $39.00 in the premarket on a solid Q3 beat and better than expected guidance. Piper Jaffray has an Overweight rating and a $33 price target on KORS. Overall option implied volatility of 47 is above its 7-week average of 35 according to Track Data.

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