Is the luxury handbag and apparel market heating up?
Shares of Michael Kors have rallied 40% this year and Topeka Capital Markets thinks the rally is just getting started. The firm sees 30% upside in the high-end retailer over the next 12 months, according to Barron's. The Halftime Report desk is mixed on the move.
Josh Brown suggests letting the stock consolidate recent gains. "This is not where you should be initiating a new position. It's had a V-shaped run," Brown said. Michael Kors is transitioning from a super-high end to a mass market brand, Brown added.