Capri Holdings ( (CPRI) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
Capri Holdings’ stock movement is driven by the anticipated sale of its luxury brand, Versace, to Prada for around $1.6 billion. This strategic move is expected to significantly reduce Capri’s net debt of $1.5 billion, thereby strengthening the financial position of its other brands, Michael Kors and Jimmy Choo. Analyst Ike Boruchow from Wells Fargo maintains a Buy rating, indicating optimism for future growth despite some of the news already being priced into the stock.
More about Capri Holdings
YTD Price Performance: 6.65%
Average Trading Volume: 3,247,424
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $2.59B
For further insights into CPRI stock on TipRanks’ Stock Analysis page.
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