Will Michael Kors Holdings (KORS) Stock Be Affected By This Analysts' Price Target Decrease?

NEW YORK (TheStreet) -- Michael Kors Holdings Ltd.'s (KORS) price target was cut to $80 from $95 at Jefferies Group (JEF) on Friday.

The firm said it lowered its price target on the designer handbag, clothing, shoes, and accessories retailer based on the company's near-term fundamental peak in the margin, and a slowdown in topline momentum.

Jefferies also reduced its full year 2015 earnings per share estimates to $3.60 from $3.90, and its full year 2016 EPS to $4 from $4.60.

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Shares of Michael Kors are up 1.82% to $81.86 in pre-market trading today.

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 a number of strengths, 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, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

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