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Stock Market & Financial Investment News

News For KORS From The Last 14 Days
Check below for free stories on KORS the last two weeks.
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July 30, 2014
10:30 EDTKORSMichael Kors risks seen increasing, shares downgraded
Shares of accessories designer Michael Kors (KORS) are falling after research firm Robert W. Baird downgraded the stock in a note to investors earlier today. WHAT'S NEW: There is increased risk to Michael Kors' revenue and profit margins in North America, Baird analyst Mark Altschwager wrote. The firm's survey on handbags suggests that many fewer consumers are looking to buy handbags this quarter than in the prior quarter, the analyst stated. Additionally, the survey suggests that fewer women plan to buy a Michael Kors handbag in Q3 than in Q2, Baird stated. Meanwhile, Internet search trend data indicates that Michael Kors' trends in the U.S. decelerated in July, Altschwager stated. On a positive note, Michael Kors can still meet its guidance for a high teen percentage increase in Q1 comparative sales and the company's European business appears to be strong, the analyst stated. Moreover, the accessories maker's Q1 results and its guidance are likely to be in-line with expectations, Altschwager believes. However, he "sees less room" for the company's Q1 results to beat expectations. The analyst lowered his price target on the shares to $98 from $114 and cut his rating to Neutral from Outperform. WHAT'S NOTABLE: In recent days Topeka, Morgan Stanley, and Piper Jaffray recommended buying Michael Kors' stock following its weakness. However, BMO Capital called the stock overvalued and Citigroup wrote that its own survey showed that Michael Kors' watch sales were moderating. PRICE ACTION: In early trading, Michael Kors fell 1% to $82.91. Other companies in the space were mixed, as Coach (COH) gained 1.4% to $34.83 and Kate Spade (KATE) lost 0.6% to $38.45.
10:00 EDTKORSOn The Fly: Analyst Downgrade Summary
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05:28 EDTKORSMichael Kors downgraded to Neutral from Outperform at RW Baird
RW Baird downgraded Michael Kors to Neutral after its Q3 survey indicated weaker purchase intent across the handbag category. The firm now sees increased risk to the company's revenue and margin performance in North America and lowered its price target for shares to $98 from $114.
July 29, 2014
08:17 EDTKORSCoach Michael Kors shares overvalued, says BMO Capital
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06:54 EDTKORSMichael Kors pullback a buying opportunity into results, says Piper Jaffray
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July 24, 2014
06:17 EDTKORSMichael Kors watch momentum moderating, says Citigroup
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July 21, 2014
09:05 EDTKORSKors calls speculation of analyst 'heads up' false, unfounded, TheStreet says
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09:00 EDTKORSMichael Kors weakness overdone, says Morgan Stanley
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08:04 EDTKORSMichael Kors weakness a buying opportunity, says Topeka
Topeka said recent checks do not indicate substantial markdown or clearance activity in the Michael Kors brand, contrary to some reports. The firm would use recent weakness as a buying opportunity and reiterates its Buy rating and $117 price target.
July 18, 2014
11:45 EDTKORSJefferies sees further risk for Michael Kors despite recent decline
Michael Kors' (KORS) margin pressures and slowing same-store sales growth, along with high expectations for the company, are reasons to be cautious on the stock, research firm Jefferies wrote in a note to investors today. The firm cut its price target on the luxury accessories retailer to $80 from $95. WHAT'S NEW: Michael Kors' same-store sales are slowing, while the company's gross margins are coming under pressure due to increased discounts of its products and its roll out of new stores, Jefferies analyst Randal Konik wrote. Additionally, investors' high expectations for the company will make it difficult for the stock to appreciate even if its results beat expectations, the analyst stated. Even with shares pulling back over the past few days, Konik says risk remains skewed to the downside and kept a Hold rating on the stock. Of note, this is the second time in two weeks that Jefferies cut its estimates for the company. WHAT'S NOTABLE: Expressing a very different outlook yesterday on Michael Kors was Credit Suisse analyst Christian Buss. Michael Kors is "one of the least discounted brands available during the seasonal clearance period ahead of early fall shipments" according to Buss, who wrote that he was "compelled" by the recent decline in the stock. The analyst reiterated a $107 price target and Outperform rating on the shares. OTHERS TO WATCH: The company's competitors include Kate Spade (KATE) and Coach (COH). PRICE ACTION: In late morning trading, Michael Kors was nearly flat near $82 per share.
11:34 EDTKORSOptions with increasing implied volatility
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07:32 EDTKORSMichael Kors price target lowered to $80 from $95 at Jefferies
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July 17, 2014
13:14 EDTKORSMichael 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.
11:48 EDTKORSStocks with call strike movement; ADSK KORS
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11:23 EDTKORSOptions with increasing implied volatility
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07:57 EDTKORSMichael Kors promo concerns creates buying opportunity, says Canaccord
Canaccord said promotional activity concerns at Michael Kors have created a buying opportunity. The firm said markdowns were no bigger than last year, suggesting a standard seasonal markdown in anticipation of fall deliveries. Canaccord believes long term growth opportunities remain robust at Kors and keeps a Buy rating and $123 price target on the shares.
07:45 EDTKORSMichael Kors discounting well below industry averages, says Credit Suisse
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July 16, 2014
10:44 EDTKORSOptions with increasing implied volatility: KORS TWX RVBD
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10:00 EDTKORSOn The Fly: Analyst Downgrade Summary
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06:51 EDTKORSMichael Kors downgraded to Market Perform from Outperform at William Blair
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