The firm said it initiated coverage on the designer handbag, shoes, clothing, and accessories retailer as it believes the company's North American business is maturing.
"Michael Kors' growth trajectory leads retail, with multiple growth opportunities from categories/geographies both in the U.S and internationally," Oppenheimer said.
"While international growth is in early innings, North America is maturing, with continued strength in wholesale offset by slowing retail," the firm added.
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 multiple 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, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
Highlights from the analysis by TheStreet Ratings Team goes as follows: