Update (9:45 a.m.): Updated with Wednesday market open information and BMO quote.
NEW YORK (TheStreet) -- BMO Capital raised its estimates on Michael Kors (KORS) through 2015 and set a "market perform" rating and an $87 target price. The firm cited the company's growth across the board as reason for the upgrade.
"3Q14 was undoubtedly an impressive quarter amid a tough backdrop. Near term, we expect the momentum to continue, as the company capitalizes on the success of the Kors brand," BMO wrote in its report. "However, we caution that this growth rate is likely unsustainable long term, and we continue to see the rate of growth moderating and margins normalizing, as inventory is ramped and the wholesale channel competes more closely with retail."
The stock was falling 0.26% to $89.70 shortly after the market opened on Wednesday.
Separately, TheStreet Ratings team rates MICHAEL KORS HOLDINGS LTD as a "buy" with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate MICHAEL KORS HOLDINGS LTD (KORS) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."
- You can view the full analysis from the report here: KORS Ratings Report