Michael Kors pullback a buying opportunity into results, says Piper Jaffray Piper Jaffray recommends using the recent pullback in shares of Michael Kors as a buying opportunity into the company's Q1 earnings report. Piper says sentiment on the name has moderated while it expects Kors to report better than expected earnings and sales in Q1. The firm reiterates an Overweight rating on the stock with a $115 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."