Capri Holdings reinstated with a Neutral at BofA

BofA reinstated coverage of Capri Holdings (CPRI) with a Neutral rating and $23 price target The health of Capri’s brands has deteriorated, though the potential for these brands to recover from trough sales and margins “provides a counterpoint that balances our relatively bleak view of the near-term fundamentals,” says the analyst, who points out that sales and earnings have declined for the past nine quarters and that management sees FY26 being “another challenged year.”