Tiger Brokers

BUZZ-Capri Holdings rises after JP Morgan upgrades to 'overweight'

Reuters
Aug 13
BUZZ-Capri Holdings rises after JP Morgan upgrades to 'overweight'

** Shares of Michael Kors owner Capri Holdings CPRI.N up 8.3% at $21.25 premarket

** Brokerage JP Morgan upgrades stock to "overweight" from "neutral"

** Sees retail comparable sales acceleration so far in the current quarter; says product and marketing strategies expected to improve retail sales further in the second half of FY26

** Expects stabilization of retail door count and wholesale revenues into FY27

** Brokerage also raises PT on CPRI to $30 from $24, an upside of ~53% to last close

** Average rating of 13 brokerages is "hold", with a median PT of $23 - data compiled by LSEG

** Up to last close, stock has fallen ~35% YTD

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))

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