Capri Holdings price target lowered to $63 from $75 at Citi

Citi analyst Paul Lejuez lowered the firm’s price target on Capri Holdings to $63 from $75 and keeps a Buy rating on the shares. The fiscal Q3 miss and guidance reduction "were certainly a disappointment," but he 25% stock decline is unwarranted, the analyst tells investors in a research note. The firm says the strong performance in Kors’ retail channel "supports the underlying health of the brand." It views the stock’s valuation as attractive at current levels.