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.
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.