Wedbush Raising PT & Estimates on Michael Kors (KORS); Strong Signs Business Momentum Continues
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Price: $37.92 --0%
Rating Summary:
15 Buy, 25 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
15 Buy, 25 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Wedbush reiterates an 'Outperform' on Michael Kors (NYSE: KORS) price target of $50.00 (from $48.00).
Analyst, Corinna Freedman, said, "With just a few weeks remaining in the quarter, we believe management’s guidance for 1Q is confirmation that momentum in the business continues...We are raising our 1Q13 EPS to $0.20 from $0.17 and our FY13 EPS to $1.12 from $1.00 and fine-tune our 2013 quarterly estimates."
"As event risk is now largely eliminated from the shares, we continue to recommend shares of KORS, despite the market’s current aversion to beta stocks, given several upcoming catalysts for KORS."
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 $41.10 yesterday.
Analyst, Corinna Freedman, said, "With just a few weeks remaining in the quarter, we believe management’s guidance for 1Q is confirmation that momentum in the business continues...We are raising our 1Q13 EPS to $0.20 from $0.17 and our FY13 EPS to $1.12 from $1.00 and fine-tune our 2013 quarterly estimates."
"As event risk is now largely eliminated from the shares, we continue to recommend shares of KORS, despite the market’s current aversion to beta stocks, given several upcoming catalysts for KORS."
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 $41.10 yesterday.
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