Telsey Advisory lowered the firm’s price target on Capri Holdings (CPRI) to $17 from $23 and keeps a Market Perform rating on the shares. The firm sees the sale of Versace as an “appropriate step” following the collapse of the TPR acquisition, the analyst tells investors. The firm is reducing its price target on the stock given the incrementally more challenging macro backdrop.
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Read More on CPRI:
- Capri Holdings price target lowered to $18 from $26 at Baird
- Capri Holdings’ Strategic Transformation: Versace Sale Bolsters Financial Position and Growth Potential
- Capri Holdings price target lowered to $25 from $30 at Wells Fargo
- Prada to acquire Versace, CarMax reports mixed Q4 results: Morning Buzz
- M&A News: Prada (HK:1913) Agrees to Buy Versace for $1.38 Billion
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