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Vetr Urges Buy On Discounted Kate Spade

Chris Dier-Scalise

The Vetr crowd on Wednesday upgraded their rating for Kate Spade & Co (NYSE: KATE) from 4 stars (Buy), issued nine days ago, to 5 stars (Strong Buy). Crowd sentiment at the time of the upgrade was mostly positive, with 83 percent of Vetr user ratings bullish.

After maintaining a period where the stock hit a 10-month high just over $24 through the start of 2017, Kate Spade resumed trading at the level it was at before the company announced it was reviewing potential acquirers. The stock dropped back below $20 on Tuesday morning on news that the retailer intended to further negotiate the proposed offer by Coach Inc (NYSE: COH). The stock has remained flat since then, closing at $19.47.

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Currently, the Vetr crowd's average target price for Kate Spade was up at $25.44, which is above the average analyst target price of $23.63. Less than 2 percent of Vetr users are holding KATE in their watch lists

Latest Ratings for KATE

Date Firm Action From To
Mar 2017 Citigroup Downgrades Neutral
Jan 2017 Telsey Advisory Group Downgrades Outperform Market Perform
Jan 2017 Bank of America Downgrades Buy Neutral

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