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5 Reasons To Buy Michael Kors ichaelorhandag Holdings Ahead Of Next michael kors online sale Week’s Earnings

Michael Kors(Kors)Has consistently exceeded market expectations since its ipo in december2011, but the story is far from over.Earlier this week, canaccord genuity initiated their coverage of kors with a buy rating and a target price of $82, the highest on the street.Canaccord genuity sees the company growing double globally by f2015.See below other price targets for the company.The average price target on the street is $73.As you can see above, barclays has continued to up their price target as kors continues to grow, with plenty of room for expansion remaining.Additionally, there have been bullish comments made by other analysts in the past few days regarding kors.Earlier this month, morgan stanley(Ms)Added kors to its best ideas list, and called the company”Retail’s best growth story”And says now is the time to buy ahead of kors report on may29.Current valUation versus calendar2014 eps estimates”Represents compelling value for a company that we think has the highest eps achievability in retail,”Said morgan. Piper Jaffray also expects Michael Korsto post a solid Q4 earnings beat on May29th and said it would continue adding positions reiterating a $77 price target.2) Kors Has Beaten Wall Street Expectations Last5 QUartersMichael Korshas surprised the street for the last five qUarters.The chart above speaks for itself, and with current expectations of $0. 39 below last2 qUarters reported EPS, there is much reason to believe Kors beats this qUarter by a sizeable margin given the company’s continued growth.Currently, and has the potential to double its domestic store base over the next five years.The company has around45 stores in europe currently, compared to burberry and louis vuitton’s 100+ stores. The company’s e commerce website generates, oh wait, Michael Korscurrently does not control/operate its own e commerce business.The company’s website is currently run by neiman marcus, and kors recognizes a wholesale sale when it sells inventory to neiman. Michael Korsplans to bring their website in house in2014.4)P/e ratios ttm p/e and forward p/e(Click to enlarge)Michael Kors, argUably the fastest growing retail brand since its IPO and as evidenced by the table above, trades at a Forward P/E of25. 1 which is around its industry peers Forward P/E of27.5, while clearly outperforming in EPS growth by a huge margin.Additionally, kors is currently trading at attractive p/e levels compared to other high growth”Buzz”Retail stocks, under armour(Ua)And Lululemon(Lulu), while outperfoming both of these companies in EPS growth.5)Kors chart looks ready for a breakout(Click to enlarge)The chart above is as of Tuesday, May21,2013.The stock has built a cup and handle pattern, and looks ripe for a breakout as it consolidates around the $60 mark ahead of its earnings next week. The stock is attractively valued relative to its peers, has tremendous upside growth potential, and looks to be a sure buy qUalitatively and qUantitatively ahead of its qUarterly earnings report on Wednesday, May29th.Source:5 Reasons To Buy Michael KorsHoldings Ahead Of Next Week EarningsDisclosure:I am long kors.I wrote this article myself, and it expresses my own opinions.I am not receiving compensation for it(Other than from michael kors handbags outlet uk seeking alpha).I have no business relationship with any company whose stock is mentioned in this article. (More. )