JPMorgan Downgrades Michael Kors (KORS) to Neutral
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Canaccord Genuity Cuts Price Target on Michael Kors (KORS) Following Q4
May 28, 2015 10:09 AM EDTCanaccord Genuity maintains a Hold rating on Michael Kors (NYSE: KORS), and cuts the price target to $48.00 (from $63.00), following Q4 earnings results. KORS reported weak Q4 comps -5.8% vs. Cannaccord's +4% estimate.
Analyst Camilo Lyon commented, "KORS' weak Q4 comps (-5.8% vs. our +4%) and a subsequently weaker F2016 outlook ($4.40-$4.50 vs. our $4.59 est) underscore the concern we have been highlighting -- the lost luster of the brand due... More
Oppenheimer Cuts Price Target Following Michael Kors (KORS) Q4 Results
May 28, 2015 8:44 AM EDTOppenheimer maintains a Perform rating on Michael Kors (NYSE: KORS), and cuts the price target to $52.00 (from $80.00), following Q4 results. Analyst Anna Andreeva says "Continue to avoid KORS, prefer COH."
Andreeva commented, "KORS story is rapidly changing with first... More
Stephens Downgrades Michael Kors (KORS) to Equal Weight
May 28, 2015 8:41 AM EDTStephens downgraded Michael Kors (NYSE: KORS) from Overweight to Equal Weight with a price target of $52.00 (from $85.00).
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 $45.93 yesterday.
... MorePiper Jaffray Cuts Price Target on Fossil Group (FOSL) Following Michael Kors (KORS) Q4 Results
May 28, 2015 7:46 AM EDTPiper Jaffray reiterates an Underweight rating on Fossil (NASDAQ: FOSL), and cuts the price target to $65.00 (from $72.00), following Michael Kors (KORS) Q4 earnings report. Analyst Erinn Murphy says that continued deceleration of Michael Kors (KORS) watches will likely present near-term pressure for FOSL.
Murphy commented, "We are... More
Piper Jaffray Cuts Price Target on Michael Kors (KORS) Following Q4 Miss
May 28, 2015 7:38 AM EDTPiper Jaffray maintains a Neutral rating on Michael Kors (NYSE: KORS), and cuts the price target to $47.00 (from $64.00), following Q4 results. Analyst Erinn Murphy lowered estimates below FY16 guidance after a Q4 miss.
Murphy commented, "We are reiterating our Neutral and... More
Telsey Downgrades Michael Kors (KORS) to Market Perform
May 28, 2015 6:52 AM EDTTelsey downgraded Michael Kors (NYSE: KORS) from Outperform to Market Perform with a price target of $50.00 (from $84.00).
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 $45.93 yesterday.
... MoreUPDATE: Goldman Sachs Downgrades Michael Kors (KORS) to Neutral
May 28, 2015 6:51 AM EDT(Updated - May 28, 2015 9:36 AM EDT)
Goldman Sachs downgraded Michael Kors (NYSE: KORS) from Buy to Neutral with a price target of $50.00 (from $93.00). Analyst Lindsay Drucker Mann noted the deterioration since mid-February was an 'outlier' in retail, suggesting underlying brand weakness.
"The speed of deterioration since mid-February is an outlier vs. other retailers,... More
Sterne Agee CRT Lowered Price Target Following Michael Kors (KORS) Q4 Results
May 28, 2015 6:40 AM EDTSterne Agee CRT maintains a Neutral rating on Michael Kors (NYSE: KORS), and cut the price target to $58.00 (from $72.00), following Q4 results. KORS reported EPS of $0.90 (vs consensus on $0.91). For Q1, management is projecting EPS of $0.74 to $0.78 (well below the Street's $1.02 estimate).
Analyst... More
BofA/Merrill Lynch Downgrades Michael Kors (KORS) to Neutral
May 27, 2015 12:48 PM EDTBofA/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... More
Michael Kors (KORS) Misses Q4 EPS by 1c, Issues Light FY16 Outlook
May 27, 2015 7:05 AM EDTMichael Kors (NYSE: KORS) reported Q4 EPS of $0.90, $0.01 worse than the analyst estimate of $0.91. Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.09 billion.
Retail net sales increased 14.9% to $469.4 million driven by 121 net new store openings since the end of the fourth quarter of fiscal 2014 and e-commerce sales from the recently... More
