UBS analyst Jay Sole lowered the firm’s price target on Capri Holdings (CPRI) to $22 from $25 and keeps a Neutral rating on the shares. Capri Holdings is executing self-help initiatives to restore brand momentum, and the Q3 report indicates the turnaround is broadly on track, the analyst tells investors in a research note. However, the recovery now appears more back-half weighted with increased risk that the turnaround takes longer than previously expected, the firm says.
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