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Stock Market & Financial Investment News

News Breaks
July 17, 2014
13:14 EDTKORS, COH, KATEMichael Kors rises after analyst sees less discounting than peers
Shares of accessories designer Michael Kors (KORS) are slightly higher in a down market after Credit Suisse said that the company's brands are less likely to be on sale than those of its competitors. WHAT'S NEW: In a note to investors, Credit Suisse analyst Christian Buss wrote that Michael Kors' products are "one of the least discounted brands available during the seasonal clearance period ahead of early fall shipments." At mid-tier department stores, 25% of Michael Kors' products are on sale with an average markdown of 27%, Buss reported. On average, 35% of the products of the company's peers are on sale, at an average discount of 27%, the analyst stated. Additionally, Michael Kors' channel strategy provides it with multiple advantages, including brand integrity and limits on markdowns, Buss believes. Buss wrote that he was "compelled" by the recent drop in the stock, and reiterated a $107 price target and Outperform rating on the shares. WHAT'S NOTABLE: Also upbeat on Michael Kors today was research firm Canaccord. Markdowns of the company's products are not any larger than last year, and concerns about large discounts on its products have created a buying opportunity, the firm contended. Canaccord continues to believe that the accessories maker has strong long-term growth opportunities, and it kept a $123 price target and Buy rating on the shares. PRICE ACTION: In mid-afternoon trading, Michael Kors gained 2% to $83. Two of the company's competitors, Coach (COH) and Kate Spade (KATE), rose fractionally.
News For KORS;KATE;COH From The Last 14 Days
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April 1, 2015
06:46 EDTKORSMichael Kors downgraded to Neutral from Overweight at Piper Jaffray
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March 31, 2015
11:46 EDTCOHMovado surges after Q4 profit beats estimates
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March 22, 2015
17:16 EDTKORSMichael Kors looks inexpensive, Barron's says
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March 18, 2015
10:06 EDTKORSMichael Kors recent headwinds provide a buying opportunity, says BofA/Merrill
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