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Fly News Breaks for November 12, 2019
CPRI
Nov 12, 2019 | 17:05 EDT
Barclays analyst Adrienne Yih initiated coverage of Capri Holdings with an Equal Weight rating and $37 price target. The analyst notes the company's continued negative store comps, investments necessary to support expansion of recent acquisitions including Jimmy Choo and Versace, and "heavy-up inventory to maintain in-stock positions" that risk further markdown risk. Yih states however that Capri Holdings stock is trading at a low valuation with longer-term top-line opportunity to grow to $8B in sales and also cites its "significant global growth opportunities."
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