Michael Kors ‘Undeservedly Punished,’ Morgan Stanley Says

After dropping 11% in the past month, is it time to buy Michael Kors (KORS)? Morgan Stanley’s Kimberly Greenberger and Amber Turley think it is: Concerns of increased promotions left investors wondering if KORS’ US demand stalled, driving the stock down 7.5% since 7/14. We think the brand remains resilient and see upside into 1Q. At 18x CY15 EPSe given 19% 3 [...]