William Blair Remains Sidelined on Michael Kors (KORS) Following Versace Acquisition Reports

William Blair analyst, Dylan Carden, reiterated a Market Perform rating on Michael Kors (NYSE: KORS) following an Italian press report that said Versace was nearing a sale with a handful of companies. Both KORS and Tiffany (NYSE: TIF) are reportedly involved in the bidding.

On Monday, Bloomberg reported that Michael Kors was nearing an agreement to acquire Versace for $2 billion, while other reports suggested the price would be in euros, equating to roughly $2.35 billion. Carden believes it is worthwhile to be patient until there is greater detail.

For an analyst ratings summary and ratings history on Michael Kors click here. For more ratings news on Michael Kors click here.

Shares of Michael Kors closed at $66.50 yesterday.

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