NEW YORK (TheStreet) -- Shares of Michael Kors Holdings Ltd are slipping, down 1.55% to $62.27 in early market trading Monday, after analysts at Mizuho lowered their rating to "neutral" from "buy" this morning. The firm set a 12-month price target of $70 on shares of the fashion company. Mizuho analysts cited data from a proprietary survey for the downgrade, that showed seasonal slowing in purchasing. London-based Michael Kors is a global lifestyle brand and an American sportswear house to a global accessories, footwear and apparel company with a presence in more than 85 countries. Insight from TheStreet's Research Team: Mark Sebastian, a member of TheStreet's Options Profits Team commented on Michael Kors in a recent post. Here is what he had to say about the stock: A name that has gone the way of the stylish Coach (COH) purse is Michael Kors (KORS). Many of you know I love stocks when it is is within grabbing distance of its 52-week high and the implied volatility is at a 52-week low. You might not now that I like buying puts on names when the stock and IV are both at a 52-week low. There is nothing that says this stock is going to slog its way lower like vol coming in as the stock drops. KORS is just that unexciting name. I think the stock is going to break $62 sometime in the next few weeks and I would buy puts on it. I would buy the May 62.5 puts for $1.15, with the intent of selling them at $2.00, or better. -Mark Sebastian, 'Mark Sebastian Novice Trade: KORS Not in Fashion' originally published 4/15/2015 on OptionsProfits.com. Want more information like this from Mark Sebastian BEFORE your stock moves? Learn more about OptionsProfits.com now. Must Read: Warren Buffett's Top 25 Stocks for 2015
Click to view a price quote on KORS. Click to research the Specialty Retail industry.from Latest TSC Headlines http://ift.tt/1HLChu0
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