Telsey Advisory lowered the firm’s price target on Capri Holdings to $42 from $57 and keeps a Market Perform rating on the shares. The Federal Trade Commission announced it filed a lawsuit to block Tapestry’s proposed acquisition of Capri, which was not “too surprising” given recent reporting, the analyst tells investors. The firm lowered its price target on the stock given incremental challenges to the probability of completing the deal.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CPRI:
- Capri Holdings Contests FTC Block on Tapestry Merger
- M&A News: Investors Await FTC Meeting that May Block CPRI-TPR Deal
- Capri Holdings downgraded to Mixed from Positive view at OTR Global
- FTC prepares suit to block Tapestry’s $8.5B takeover of Capri, NY Times reports
- Capri Holdings Nears Merger Completion with Tapestry Approval
