Michael Kors (KORS) Social Media Campaign #MKxMACYS Seen as a Big Hit, Piper Jaffray Says

Piper Jaffray analyst Erinn Murphy reiterated her Overweight rating and $118 price target on Michael Kors (NYSE: KORS) after stumbling upon a new marketing campaign over the weekend that Michael Kors has partnered with Macy's (NYSE: M) which is being fueled by high-profile bloggers under the social media hash-tag #MKxMACYS.

"From what we can gather, the campaign started Oct 21 and ended Oct 26 with events at 23 locations," Murphy comments. "High-profile blogger SongOfStyle was featured in the campaign, making a guest appearance in San Fran. To wit, SongOfStyle has 1.8M Instagram followers which compares to 3M Michael Kors fans. In Florida, blogger Camila Coelho (2.3M followers) attended the event. We believe this event is new Y/Y--one likely to support a build into Holiday."

She added, "As it relates to the Sept-qtr (Q2), we believe EPS could beat estimates by $0.05-$0.07 on a sales beat of at least $60M

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 $75.74 yesterday.

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