Michael Kors discounting well below industry averages, says Credit Suisse Credit Suisse analysis indicates Michael Kors discounting remains well below industry averages in both mid-tier department stores and premium department stores. The firm recommends using recent weakness as a buying opportunity and reiterates its Outperform rating and $107 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."