Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

New Stock Coverage: Kiss Me, Kate Spade

By

Wall Street ratings agencies set the tone for today's stock market.

PrintPRINT
Today's headline analyst initiation Kate Spade (NYSE:KATE) was long known as Fifth & Pacific and also owned Juicy Couture. The fashion firm has been a stellar performer for shareholders, having returned some 72.74% in the past year. Kate Spade's most recent earnings announcement revealed a large increase in sales, many coming at the expense of its beleaguered rival Coach, Inc. (NYSE:COH).
 
The Oracle of Omaha, heading into his Weekend With Warren, has underperformed the S&P 500 (INDEXSP:.INX) in four of the last five years. Meanwhile, Mr. Gross is coming off of four straight similarly miserable months, and then some. Clearly, a brutal Winters has left both men sneezing badly, but when, respectively, the world's most celebrated stock and bond gurus are each enduring such tough times, what hope is there for us mere mortals? Thus it was that investors did stay away from Dow Industrials (INDEXDJX:.DJI) at the start of May as blue chips sold off slightly in light trading. A few equities did stand out in an otherwise lackluster session. Not least Berkshire Hathaway (NYSE:BRK.B) itself, which hit an historic high on the eve of its annual meeting. As, indeed, did America's largest pharmacy chain Walgreen (NYSE:WAG) with a 2.25% advance. Normally, it's the chemists who are desperately creepy, but this time it was one of Walgreen's own customers. And in Omaha, of all places. The "capitalist Woodstock" taking place in Nebraska's largest city thus promises to be even more entertaining than usual. Elsewhere, Toronto Dominion (NYSE:TD) ended off 0.83%. It was laid low by an iffy analyst initiation even as the city's mayor allegedly got high in his sister's basement.
 
Today in economics, factory orders for March are expected to slip slightly from February's pace at 10:00 a.m. E.D.T. On the corporate front, another frenetic week for first-quarter earnings announcements concludes with Chevron (NYSE:CVX), CVS Caremark (NYSE:CVS), Estée Lauder (NYSE:EL), and Madison Square Garden (NASDAQ:MSG) all releasing results.
 
Now let's turn to this morning's new stock coverage, a list that includes an audio outfit in addition to Kate Spade.
 
Accessories & ApparelMichael Kors Holdings (NYSE:KORS), which has had an excellent week, is a new Buy ($116 price target) at Nomura, which assigns an identical rating on our headline stock Kate Spade.
 
Gentex (NASDAQ:GNTX): Shares are an Outperform at FBR Capital, whose target price is $39.
 
Gran Tierra Energy (TSE:GTE): Goldman Sachs has a new Neutral on the name.
 
Harman International (NYSE:HAR): Shares in the audio pioneer are picked up at Perform by FBR Capital.
 
Methode Electronics (NYSE:MEI): The stock is an Outperform at FBR Capital, whose target is $37. Solid revenue growth is cited.

Also see:

Stock Upgrades: Make a Mint (Julep) in 'Internet Horseman' Oracle Ahead of Kentucky Derby

Stock Downgrades:
Future Is Up in the Air for Satellite Stock DirecTV
< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE