Capri Holdings upgraded to Outperform from Market Perform at BMO Capital

BMO Capital analyst Simeon Siegel upgraded Capri Holdings (CPRI) to Outperform from Market Perform with a price target of $31, up from $25. The firm sees investor sentiment is “too-negative” and uninterested. It sees share upside as Capri’s sales, margins, and debt pressures turn “less-bad.” Further, BMO sees a “meaningful, under-appreciated opportunity to narrow an inflated Equity-to-Enterprise Value gap,” the analyst tells investors in a research note. The firm thinks the stock’s sentiment inflects before fundamentals.