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CPRI

Capri Holdings

$0.00

(0.00%)

, KORS

Use CPRI

$66.71

-5.96 (-8.20%)

07:14
09/25/18
09/25
07:14
09/25/18
07:14

Donatella, Santo, Allegra Versace to become shareholders in Capri Holdings

"This is a very exciting moment for Versace," said Donatella Versace. "It has been more than 20 years since I took over the company along with my brother Santo and daughter Allegra. I am proud that Versace remains very strong in both fashion and modern culture. Santo, Allegra and I recognize that this next step will allow Versace to reach its full potential. We are all very excited to join a group led by John Idol, whom I have always admired as a visionary as well as a strong and passionate leader. We believe that being part of this group is essential to Versace's long-term success. My passion has never been stronger. This is the perfect time for our company, which puts creativity and innovation at the core of all of its actions, to grow." Donatella added, "Santo, Allegra and I will become shareholders in Capri Holdings (CPRI). This demonstrates our belief in the long-term success of Versace and commitment to this new global fashion luxury group." Michael Kors (KORS) CEO John Idol added, "Versace's management team will continue to be led by CEO, Jonathan Akeroyd, who has been an instrumental partner to Donatella in driving growth and success for Versace worldwide. He and Donatella have assembled strong senior management and design teams that will continue to lead Versace into its next chapter. We are extremely fortunate to be able to acquire such an extraordinary brand with an incredibly talented team."

CPRI

Capri Holdings

$0.00

(0.00%)

KORS

Use CPRI

$66.71

-5.96 (-8.20%)

CPRI Capri Holdings
$0.00

(0.00%)

KORS Use CPRI
$66.71

-5.96 (-8.20%)

08/09/18
ADAM
08/09/18
NO CHANGE
Target $90
ADAM
Buy
Michael Kors price target raised to $90 from $84 at Canaccord
Canaccord analyst Camilo Lyon raised his price target on Michael Kors to $90 from $84 following solid Q1 results. The analyst said the beat was due to broad based sales, gross margins, expense leverage, and a positive tax rate. He said the key elements of his Buy thesis are in place and trending upwards, strong free cash flow is being deployed for buybacks, and the shares are at an attractive valuation. Lyon reiterated his Buy rating on Michael Kors shares.
08/09/18
NOMU
08/09/18
NO CHANGE
Target $85
NOMU
Buy
Michael Kors price target raised to $85 from $80 at Nomura Instinet
Nomura Instinet analyst Simeon Siegel raised his price target for Michael Kors to $85 saying yesterday's Q1 results showed top-line strength and meaningful margin expansion. Kors has been "showing remarkable strides as one of the best Shrink to Grow stories," but its multiple is lagging meaningfully behind peers, the analyst adds. He reiterates a Buy rating on the shares.
08/17/18
PIPR
08/17/18
NO CHANGE
Target $71
PIPR
Neutral
Michael Kors price target raised to $71 from $66 at Piper Jaffray
Piper Jaffray analyst Erinn Murphy raised her price target for Michael Kors to $71 from $66 but maintained a Neutral rating following the company's Q1 results, telling investors in a research note that she continues to maintain her sidelined stance. Though she raised her estimates for Q2 and FY19/FY20 based on an improved Q1, she would like to see more evidence of a sustained improvement at retail.
09/24/18
WELS
09/24/18
NO CHANGE
WELS
Market Perform
Versace not seen by many as ideal M&A target for Michael Kors, says Wells Fargo
Wells Fargo analyst Ike Boruchow said many investors seem puzzled by the negative reaction today in shares of Michael Kors to reports that the company may be near a deal to acquire Italian fashion company Versace for $2.35B. He believes the weakness is due to the speed with which such a deal would be made following the purchase of Jimmy Choo just 11 months ago and the fact that on the surface the reported deal would appear to be fairly dilutive. Versace "doesn't make for an ideal M&A target in the eyes of many shareholders," the analyst added. Boruchow thinks an acquisition at the terms reported could be 30c-40c dilutive to EPS in year one, not inclusive of dilution should the company halt their current buyback program, representing a 7-9% impact to EPS in year one, which he notes is a similar percentage impact as what the stock is seeing today. Boruchow keeps a Market Perform rating on Michael Kors shares, which are down 7.7% to $67.12 in afternoon trading.

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DVAX

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DNKEY

Danske Bank

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WD

Walker & Dunlop

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TD

Toronto-Dominion

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GWGH

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NSA

National Storage

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MOS

Mosaic

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ATIS

Attis Industries

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FLMN

Falcon Minerals

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TRPX

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CALX

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BBY

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BX

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MFIN

Medallion Financial

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