Capri Holdings price target raised to $24 from $21 at JPMorgan

JPMorgan raised the firm’s price target on Capri Holdings (CPRI) to $24 from $21 and keeps a Neutral rating on the shares. The firm noted that management cited better-than-expected Q1 results at both Michael Kors and Jimmy Choo with sequential revenue improvement across all regions and within retail sales across each brand. JPMorgan added, however, that it sees the Michael Kors turnaround and brand inflection taking time, with actions required through FY26 to rationalize distribution, improve values and product design to reach Kors’ target customer demographic, and drive greater full-price selling share.