Capri Holdings price target raised to $23 from $22 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Capri Holdings (CPRI) to $23 from $22 and keeps a Market Perform rating on the shares. The company’s Q2 results were “solid,” with sales and expense deleverage better than expected, the analyst tells investors. Visibility to the global macro-outlook for Michael Khors and Jimmy Choo brands remains challenging as management looks to stabilize the business, leading Telsey to maintain its rating on the stock.