UPDATE: Sterne Agee Initiates Michael Kors at Neutral Rating, Challenges Still from Younger Competitors
Posted on March 04, 2013 at 11:00 AM EST
In a report published Monday, Sterne Agee initiated coverage on Michael Kors Holdings Ltd. (NYSE: KORS ) with a Neutral rating and $63.00 price target. Sterne Agee noted, “While we acknowledge that macro pressures are currently impacting top-line results (at the same time margins are peaking and compares get tough),