Capri Holdings (CPRI) PT Lowered to $26 at TD Cowen

TD Cowen analyst Oliver Chen lowered the price target on Capri Holdings (NYSE: CPRI) to $26.00 (from $32.00) while maintaining a Buy rating.

The analyst comments "A Bit More Patience For Upside. CPRI beat on revs by ~3% and EPS by ~4%; GM came in lighter than expected driven by +50bp higher than expected tariff impact due to selling a higher percentage of newer product. Op margin was in-line with Street's 7.7% vs. 6% a year ago. We see product and marketing changes underway, better full-price selling, and solid product execution at Jimmy Choo."

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