BofA/Merrill Lynch Downgrades Michael Kors (KORS) to Neutral
BofA/Merrill Lynch downgraded Michael Kors (NYSE: KORS) from Buy to Neutral with a price target of $60.00 (from $100.00). The change follows Q4 results and soft Q1 and FY16 guidance. Analyst Robert Ohmes pointed to uncertain global same-store-sales and operating margin outlook.
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 $60.59 yesterday.