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Michael Kors Holdings (NASDAQ:KORS)‘s stock had its “outperform” rating restated by Zacks in a research note issued on Friday. They currently have a $89.00 price objective on the stock. Zacks‘s price objective points to a potential upside of 9.88% from the company’s current price.

Zacks’ analyst wrote, “Michael Kors continues with its fabulous run as the company displayed yet another stellar quarterly performance. The company’s first-quarter fiscal 2015 earnings per share of $0.91 beat the Zacks Consensus Estimate by 12% while rising 49% year over year. Revenues of $919 million beat the Zacks Consensus Estimate by nearly 8% and grew 43% year over year. Further, the company posted positive comps for the 33rd straight quarter. We remain impressed by Michael Kors’ product diversification strategy, store expansion drive and foray into international markets. Additionally, the company’s debt free balance sheet provides ample financial flexibility to capitalize on growth opportunities. Considering all these factors, we reiterate our long term Outperform recommendation on the stock.”

Michael Kors Holdings (NASDAQ:KORS) traded down 0.89% during mid-day trading on Friday, hitting $80.28. 1,370,423 shares of the company’s stock traded hands. Michael Kors Holdings has a 52 week low of $70.59 and a 52 week high of $101.04. The stock has a 50-day moving average of $81.42 and a 200-day moving average of $90.44. The company has a market cap of $16.404 billion and a P/E ratio of 23.02.

Michael Kors Holdings (NASDAQ:KORS) last released its earnings data on Monday, August 4th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.10. The company had revenue of $9.19 billion for the quarter, compared to the consensus estimate of $852.45 million. During the same quarter in the previous year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was up 43.9% on a year-over-year basis. On average, analysts predict that Michael Kors Holdings will post $4.06 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on KORS. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Michael Kors Holdings in a research note on Wednesday, August 13th. Separately, analysts at Nomura reiterated a “buy” rating on shares of Michael Kors Holdings in a research note on Tuesday, August 5th. They now have a $103.00 price target on the stock, down previously from $116.00. Finally, analysts at Barclays reiterated an “underweight” rating on shares of Michael Kors Holdings in a research note on Tuesday, August 5th. They now have a $78.00 price target on the stock, down previously from $82.00. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $103.83.

Michael Kors Holdings Limited is a global lifestyle brand . The Company designs, materials and craftsmanship with a jet-set aesthetic that combines stylish elegance and a sporty attitude.

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