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nvestment analysts at Piper Jaffray boosted their target price on shares of Michael Kors Holdings Ltd (NASDAQ: KORS) from $61.00 to $63.00 in a note issued to investors on Friday. The firm currently has an “overweight” rating on the stock.

The analysts wrote, “We are raising our estimates for Q2 and beyond to reflect the robust underlying business trends. We believe long-term shareholders are exploring the upside scenarios to existing models to gain comfort with current valuation. We believe there are a number of scenarios which on the high-end could support a case that our FY14E EPS of $1.85 could be achieved in the next four quarters, implying FY14 could be closer to the mid-$2/range. To achieve sustainable top-line growth, we believe the company will need to continue to make investments to fuel brand awareness, create customer acquisition and drive loyalty.”

Shares of Michael Kors Holdings Ltd traded down 0.17% during mid-day trading on Friday, hitting $53.34. Michael Kors Holdings Ltd has a one year low of $23.51 and a one year high of $57.35. The company has a market cap of $10.653 billion and a P/E ratio of 54.35.

Michael Kors Holdings Ltd last issued its quarterly earnings data on Tuesday, August 14th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.14. The company’s revenue for the quarter was up 70.7% on a year-over-year basis. On average, analysts predict that Michael Kors Holdings Ltd will post $1.42 earnings per share for the current fiscal year.

KORS has been the subject of a number of other recent research reports. Analysts at Robert W. Baird raised their price target on shares of Michael Kors Holdings Ltd from $61.00 to $65.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at William Blair initiated coverage on shares of Michael Kors Holdings Ltd in a research note to investors on Wednesday. They set an “outperform” rating on the stock. Finally, analysts at Wedbush raised their price target on shares of Michael Kors Holdings Ltd from $62.00 to $65.00 in a research note to investors on Tuesday, September 25th. They now have an “outperform” rating on the stock.


Fiscal 2014, $2, at least.....
JT
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No. of Recommendations: 0
One more, Citigroup is at $1.66 for fiscal 2013, they're not soft balling
it like other analysts.

http://www.dailypolitical.com/finance/stock-market/citigroup...

Equities researchers at Citigroup lifted their target price on shares of Michael Kors Holdings Ltd (NASDAQ: KORS) to $68.00 in a report issued on Friday.

The analysts wrote, “We raise our full year EPS estimate to $1.66 (from $1.45) on new guidance and incremental fixed cost everage, we model comps +35% and believe KORS is well positioned to exceed conservative guidance given our channel checks, industry contacts, and conservative guidance. We are also raising our price target to $68 (from $65) on 30x. Our price target implies +30% ETR.”


Humm ETR, they got me on that one. Must be upside gain to the target.
JT
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