Michael Kors parent Capri rises after Raymond James upgrades to 'strong buy'
16/10/2026 16:01
BUZZ-Michael Kors parent Capri rises after Raymond James upgrades to 'strong buy' ** Shares of Capri Holdings CPRI.N up ~2% at $16.11 in morning trading
** Raymond James upgrades the stock to "strong buy" from "outperform"
** Says the stock's recent weakness has lowered expectations, creating an attractive buying opportunity
** Sees business trends improving in the second half of fiscal 2027 as the company benefits from stronger products and improved inventory availability
** Says there is significant upside to profit margins over the longer term if Capri returns to revenue growth while maintaining expense discipline
** Eight of 17 brokerages rate the stock "buy" or "higher", nine "hold"; their median PT is $20 - data compiled by LSEG
** Up to last close, stock down about 35% YTD
(Reporting by Shania S Thomas in Bengaluru)