Barclays analyst Adrienne Yih raised the firm’s price target on Capri Holdings (CPRI) to $72 from $56 and keeps an Overweight rating on the shares. The analyst’s quarterly handbag promotional tacker shows "flat" promos at Capri and "deeper" promotions at Tapestry (TPR), driven by Kate Spade and Coach Outlet. The firm raised valuation multiples for Capri due to the prospect of global tourist recovery, which it says primarily benefits global luxury brands Versace and Jimmy Choo.
Published first on TheFly
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