Citi upgraded Capri Holdings (CPRI) to Buy from Neutral with a price target of $29, up from $21. Wells Fargo also upgraded the shares this morning. Capri has had a tough couple of years but the market seems to be valuing the company as if its portfolio of brands “are on a path to extinction,” the analyst tells investors in a research note. Citi does not believe they are, which it says “creates a very favorable risk/reward if anything were to go right.” Any signs of stabilization/improvement could move the stock higher, the analyst tells investors in a research note. Further, if Capri could monetize one or more of its brands, it may highlight the true market value of its assets, contends Citi.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CPRI:
- Capri Holdings upgraded to Overweight from Equal Weight at Wells Fargo
- Capri Holdings price target raised to $22 from $19 at Bernstein
- Capri Holdings upgraded to Outperform from Market Perform at BMO Capital
- Class Action Filed Against Capri Holdings Limited (CPRI) – February 21, 2025 Deadline to Join – Contact Levi & Korsinsky LLP
- Honeywell still exploring alternatives, Capri weighs Versace sale: Morning Buzz