Having fallen from $100 to $30 Michael Kors stock price is approaching $50 again and Canaccord Genuity say the turnaround is real.
Even with a very conservative outlook on the Jimmy Choo acquisition, the firm expects earnings to touch $4.50 per share and PE in the mid-teens indicating an SP of c.$67.50 although TP is $58.
Canaccord Genuity noted that Michael Kors has lacked innovation in its past collections but has ramped up the pace of new designs and has embarked on the tough task of cutting down on promotions - allowing higher price points and margins.
This is not a recommendation to buy or sell. Stocks are not suitable for all investors. Please do your own research.
Submitted September 28, 2017 at 02:38PM by InterestingNews1 http://ift.tt/2xEj5y4
