Capri Holdings price target lowered to $70 from $74 at BMO Capital

BMO Capital analyst Simeon Siegel lowered the firm’s price target on Capri Holdings to $70 from $74 but keeps an Outperform rating on the shares. The company reported a "rare" Q3 earnings miss with a "conservative" guidance cut, but the quarter and outlook also now set up a year of beat-and-raise quarters for one of the few names that is "explicitly committed" to maintaining price even at the expense of volume, the analyst tells investors in a research note.