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.
Michael Kors fundamentals intact, says Morgan Stanley Morgan Stanley said Michael Kors concerns of increased inventory and promotions impacting gross margins is overdone. The firm believes incremental promotions reflect some normalization and not brand decay and eComm checks suggest inventory is under control. Morgan Stanley views Kors' fundamentals as intact and valuation as compelling. Shares are Overweight rated.