Jay Sole, an analyst from UBS, maintained the Hold rating on Capri Holdings. The associated price target remains the same with $23.00.
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Jay Sole’s rating is based on several factors that suggest a cautious outlook for Capri Holdings. The company has shown signs of potential improvement, particularly with the revamped Michael Kors store design and brand strategy, which aim to align more closely with current market trends. However, despite these positive developments, the turnaround process is expected to take longer than what is currently reflected in the stock’s valuation.
Furthermore, while the sale of Versace provides Capri Holdings with the financial flexibility to invest in its growth initiatives and reduce debt, the overall impact on the company’s performance remains uncertain. The focus on expanding Michael Kors’ appeal to younger consumers is promising, but the execution of this strategy will be crucial. Given these mixed signals, Jay Sole maintains a Hold rating, reflecting a balanced view of the potential risks and rewards associated with Capri Holdings’ stock.
In another report released on November 22, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $24.00 price target.