Kate Spade Upgraded as Wells Fargo Predicts Comeback for Brand

September 13, 2016 2:20 PM

21 0

Kate Spade & Co. was upgraded by Wells Fargo & Co. analyst Ike Boruchow, who sees the handbag maker’s sales and profit margins improving in the second half of the year.

The Kate Spade brand remains healthy, despite investors putting the stock into the “penalty box” following disappointing results, Boruchow said in a report. He raised his recommendation on the shares to outperform, the equivalent of a buy, from market perform. Boruchow also boosted his price target ...

Also read: Philip Morris Stock Sees Worst Day in a Decade on Declining Cigarette Volume

Read more

To category page