Capri Holdings ( (CPRI) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Capri Holdings’ stock movement is driven by its Q2 revenue of $856 million, which exceeded expectations due to strategic initiatives and the anticipated Versace sale. The company plans to use the sale proceeds to repay debt and has announced a $1 billion share repurchase program, enhancing financial flexibility. Analysts have raised the price target, citing better-than-expected earnings and a positive outlook for Michael Kors and Jimmy Choo.
More about Capri Holdings
YTD Price Performance: 0.53%
Average Trading Volume: 2,767,785
Technical Sentiment Signal: Sell
Current Market Cap: $2.47B
For further insights into CPRI stock on TipRanks’ Stock Analysis page.
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