Aug. 13 at 12:38 PM
Capri rose 7% after JPMorgan upgraded the stock to Overweight from Neutral with a
$30 price target — over 50% upside from Tuesday’s
$19.62 close.
Analyst Matthew Boss sees multi-year improvement in revenue and margins, led by Michael Kors brand revitalization. Capri is streamlining 25% of SKUs for spring to focus on three core product lines: Hamilton, Laila, and Nolita.
Boss’s FY2028 EPS estimate of
$2.71 is >25% above consensus, based on ~2.4% annual revenue growth and 8.1% operating margins. Upside drivers include full-price sales recovery, tariff mitigation, capital deployment post-Versace deal, and a 25% reduction in Michael Kors stores vs. 2019 levels.
$JPM $CPRI