What Are Analysts Saying About Capri Holdings Limited (CPRI)?

Capri Holdings Limited (NYSE:CPRI) is one of the best luxury stocks to buy now. Capri Holdings Limited (NYSE:CPRI) received a rating update from TD Cowen on February 4, with the firm lowering the price target on the stock to $26 from $32 while maintaining a Buy rating on the shares. It told investors that the company delivered better-than-expected fiscal Q3 results, with its product getting better, but not without higher expectations keeping the stock back.

Capri Holdings Limited (CPRI): Among Billionaire Glenn Russell Dubin’s Stock Picks with Huge Upside Potential

The same day, Goldman Sachs also cut the price target on Capri Holdings Limited (NYSE:CPRI) to $24 from $27 while maintaining a Neutral rating on the shares. The firm told investors in a research note that the company’s fiscal Q3 results exhibited sequential improvement in Michael Kors full-price sales and stronger-than-expected Jimmy Choo performance. However, wholesale reset and outlet pressure continue to weigh on near-term results, according to Goldman Sachs.

Capri Holdings Limited (NYSE:CPRI) also received a rating update from UBS on February 4. The firm cut the price target on the stock to $22 from $25 and maintained a Neutral rating on the shares, stating that the company is executing self-help initiatives to restore brand momentum. The fiscal Q3 report shows that the turnaround is broadly on track, according to the firm. However, it believes that the recovery appears more back-half weighted with a higher risk that the turnaround takes longer than previously anticipated.

Capri Holdings Limited (NYSE:CPRI) manages and operates globally popular luxury brands such as Jimmy Choo, Versace, Michael Kors, and others. The Versace segment includes luxury apparel, accessories, and footwear. Jimmy Choo’s segment covers luxury footwear, small leather goods, accessories, and handbags. The Michael Kors segment operates through four retail formats: lifestyle stores, e-commerce sites, collection stores, and outlet stores.

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Disclosure: None. This article is originally published at Insider Monkey.