Cowen Reiterates Outperform Following Meetings with Kate Spade (KATE) Management

Cowen reiterates an Outperform rating and $37.00 price target on Kate Spade (NYSE: KATE) following meetings with management. Analyst Oliver Chen said that KATE's strategy is built to create a sense of urgency.

Chen commented, "KATE is Our Favorite Accessory Idea. Following our mgmt mtg, we have more confidence in the sustainability & true lifestyle nature of the brand. Pos. catalysts for 2H comp: new stores entering comp base, pullback of promo yielding full-px traffic, handbag flow & balanced planning. We like mgmts early focus on tightening dist, investing in infrastructure, limiting outlet & L-T oppty for margin exp."

For an analyst ratings summary and ratings history on Kate Spade click here. For more ratings news on Kate Spade click here.

Shares of Kate Spade closed at $24.78 yesterday.

You May Also Be Interested In

• JPMorgan Downgrades Tata Technologies (TATATECH:IN) to Underweight
• BMO Capital Upgrades CES Energy Solutions Corp. (CEU:CN) (CESDF) to Outperform
• Alimentation Couche-Tard Inc (ATD/B:CN) (ANCUF) PT Raised to Cdn$104 at UBS