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Kate Spade (KATE) Stock Rallies, Added to Citigroup's 'Focus List'

NEW YORK (TheStreet) -- Kate Spade & Co. (KATE - Get Report) shares are rallying 2.65% to $25.53 Thursday morning after Citigroup added the apparel maker to its "Focus List" in a note issued to investors this morning. citing several reasons for its optimistic outlook.

The firm, which has a "buy" rating on the stock with a price target of $32, said that the company's recent 2015 fourth quarter results and fiscal 2016 guidance have re-instilled confidence in investors.

In early March, the company posted earnings of 32 cents a share, in line with estimates. Revenue gained 7.6% to $429 million as analysts were looking for $441.64 million.

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