Michael Kors shares should be bought ahead of Q3 results, says Buckingham Buckingham expects Michael Kors' sales and earnings guidance to surpass expectations, based on data indicating stronger than expected North American department store sales for the company so far this quarter. The firm expects the company's results to continue to exceed expectations going forward, and it keeps a Buy rating on the shares.
Coach upgraded to Overweight from Equal Weight at Barclays Barclays analyst Joan Payson upgraded Coach to Overweight citing greater confidence in the designer's ability to grow domestic store comps with its turnaround "well underway." She expects Coach's competitive pressures to ease and raised her price target for shares to $50 from $38. The maker of handbags closed yesterday down 28c to $41.76. Payson also lowered her price target for shares of Michael Kors (KORS) to $60 from $70 and keeps an Equal Weight rating on the name. She believes Kors may soon be in need of transformation. The analyst keeps an Equal Weight rating on Tiffany (TIF), calling the company a "work in progress."