Michael Kors web search trends remain healthy, says RW Baird Baird is encouraged by March web search trends for Michael Kors which suggests support for their 20% comp estimate for Q4. The firm sees increased market share in both North America and Europe and remains bullish citing differentiated positioning, global growth prospects, and ability to deliver upside to estimates. Shares are Outperform rated with a $114 price target.
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."