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After selling off yesterday along with other retail names, Michael Kors (KORS -3.3%) is lower...

After selling off yesterday along with other retail names, Michael Kors (KORS -3.3%) is lower today thanks to a critical note from Citi. Analyst Oliver Chen says checks indicate discounts for Kors handbags are greater than those seen on Black Friday, and in some cases amount to 30%-50% below their retail price. He's lowering his estimates and slashing his PT to $60 from $68, albeit while maintaining a Buy.
Comments (1)
  • vandagreenwood
    , contributor
    Comments (27) | Send Message
     
    Should be a great season for Kors They are not too expensive and not cheap at the same time and very god quality.
    Possibly too much wit the MK logo.
    Good sales but it has GREAt possibilities because it fils a void price wise.
    27 Dec 2012, 06:33 PM Reply Like
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