Capri Holdings price target lowered to $13 from $19 at Barclays

Barclays lowered the firm’s price target on Capri Holdings (CPRI) to $13 from $19 and keeps an Equal Weight rating on the shares. The firm’s quarterly handbag promotion tracker shows the Coach and Coach Outlet brands of Tapestry are “flawlessly executing,” suggesting another quarter of gross margin upside driven by full price selling. It believes Tapestry is one of the best positioned retailers to navigate tariff disruption with high margins and pricing power.