Jefferies analyst Ashley Helgans lowered the firm’s price target on Capri Holdings (CPRI) to $34 from $36 and keeps a Hold rating on the shares. The firm lowers EPS estimates about 4% below consensus for Capri and Tapestry (TPR) for the fiscal year as it says alt data and European luxury companies suggest the U.S. consumer is “challenged,” China is recovering, wholesales are “soft,” and promos are “elevated.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on CPRI:
- Capri downgraded to Neutral on slowing traffic at JPMorgan
- Capri Holdings downgraded to Neutral from Overweight at JPMorgan
- Capri Holdings (NYSE:CPRI): This Luxury Stock is in the Bargain Bin
- Billionaire Ken Fisher Recommends Owning Luxury Goods Stocks; Here Are 2 Names Analysts Like
- Apple downgraded, Oracle upgraded: Wall Street’s top analyst calls
Questions or Comments about the article? Write to editor@tipranks.com