Guggenheim analyst Robert Drbul upgraded Capri Holdings (CPRI) to Buy from Neutral with a $30 price target The firm cites both the stock’s “depressed valuation,” arguing that the stock price has “meaningfully diverged from its portfolio’s intrinsic value,” as well as a belief that management can take steps to increase shareholder value. The Michael Kors brand has deteriorated, but is not “beyond repair,” while the Versace and Jimmy Choo brands remain attractive, the analyst added.
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