Michael Kors pullback a buying opportunity, says Deutsche Bank Deutsche Bank recommends using the weakness in shares of Michael Kors as a buying opportunity. Deutsche believes the Kors brand is performing "exceedingly well" and points out promotions are only modestly up year-over-year. The firm views the current valuation as compelling and keeps a Buy rating on Michael Kors with a $95 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."