Topeka Capital Starts Michael Kors (KORS) at Buy

Topeka Capital initiated coverage on Michael Kors (NYSE: KORS) with a Buy rating and a price target of $117.00.

Analyst Dorothy S. Lakner said, "We are initiating coverage of Michael Kors Holdings Ltd. (KORS) with a Buy rating and a $117 price target, given what we see as continuing prospects for 20%-25% sales and earnings growth over the next several years as the brand continues to expand globally. With its long-time designer Michael Kors, KORS not only delivers great product but a unique lifestyle message and its wide range of price points span the gamut between luxury and more accessible price points, allowing more consumers to own a piece of Kors’ “jet-set” dream."

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 $92.85 yesterday.

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