two firms came out today to say buy and there doesn't seem to be slow down in kors, as oppose to the RUMOR yesterday about otr saying about slowdown.
i said yesterdayi don't believe there is slowdown in kors either. i have been visiting their stores since last december and i talk to the peole shopping there and people working there. i even snapped a photo of a line outside the store at one of their outlets. people waited just to go inside. that is bullish. i don't buy any bear argument at this point, all based on their earnings, guidance, store traffic, etc..i bought at 55 yesterday.
March 12, 2013
14:07 EDT KORS Michael Kors recent pullback a buying opportunity, says Citigroup
Citigroup recommends using the recent pullback in shares of Michael Kors as a buying opportunity. The firm reiterates a Buy rating on the stock with a $75 price target.
Kind of ironic as right after Christmas it was Citicorp who 'warned' that KORS was discounting to get sales & lowered eps & price target. When that was debunked they put KORS on their best stocks for 2013 list & upped price targets.