Nomura Securities Maintains a 'Buy' on Michael Kors (KORS); Raising Numbers On Increased Confidence
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Price: $37.92 --0%
Rating Summary:
15 Buy, 25 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
15 Buy, 25 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Buy' on Michael Kors (NYSE: KORS) price target raised from $34 to $48.
Analyst, Paul Lejuez, said, "Maintain rating and raise PT based on our forecast increase and increased confidence in the KORS’s growth profile. Top-line momentum remains strong; although the company’s significant 3Q beat ($0.28 vs cons of $0.10) was driven by nearly every line item of the P&L. We expect this momentum to continue as the brand builds on its awareness in the U.S. Internationally, we believe the company will achieve profitability more quickly than it has anticipated. We believe the company will continue to beat consensus forecasts in F12 and F13. We believe that KORS is most similar to Lululemon (Nasdaq: LULU) from a growth perspective, although in our view KORS is the more attractive and visible growth story. Our EPS estimates for 2012/2013/2014 rise to $0.77/$1.00/$1.27, respectively, from $0.61/$0.81 /$1.04."
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 $42.85 yesterday.
Analyst, Paul Lejuez, said, "Maintain rating and raise PT based on our forecast increase and increased confidence in the KORS’s growth profile. Top-line momentum remains strong; although the company’s significant 3Q beat ($0.28 vs cons of $0.10) was driven by nearly every line item of the P&L. We expect this momentum to continue as the brand builds on its awareness in the U.S. Internationally, we believe the company will achieve profitability more quickly than it has anticipated. We believe the company will continue to beat consensus forecasts in F12 and F13. We believe that KORS is most similar to Lululemon (Nasdaq: LULU) from a growth perspective, although in our view KORS is the more attractive and visible growth story. Our EPS estimates for 2012/2013/2014 rise to $0.77/$1.00/$1.27, respectively, from $0.61/$0.81 /$1.04."
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 $42.85 yesterday.
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