BMO Capital analyst Simeon Siegel downgraded Capri Holdings (CPRI) to Market Perform from Outperform with a price target of $57, down from $68, after the company entered into an agreement to be acquired by Tapestry (TPR) for $57 per share in cash. The firm downgraded the shares to reflect the deal.
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Read More on CPRI:
- Tapestry downgraded to Hold from Buy at Edward Jones
- Tapestry price target lowered to $49 from $54 at Telsey Advisory
- Capri Holdings downgraded to Equal Weight from Overweight at Wells Fargo
- Capri Holdings downgraded to Market Perform from Strong Buy at Raymond James
- Capri Holdings downgraded to Neutral from Outperform at Baird