Capri Holdings Stock Reinstated At BofA After Q3 Earnings, But Retail's Downbeat

Shares of Capri Holdings Ltd. ($CPRI) rose more than 1% on Monday after BofA reinstated coverage of the luxury fashion group, but retail sentiment stayed downbeat.

BofA has a ‘Neutral’ rating on Capri shares with a $23 price target, Fly.com reported.

According to the analyst, even as Capri's business has been challenged, the potential for its brands to recover from a sales and margins trough "provides a counterpoint that balances" its "relatively bleak view of the near-term fundamentals," added the report. The analyst noted the sales and earnings decline for the past nine quarters.

Recently, Barclays also lowered the firm's price target on Capri Holdings to $19 from $21 with an ‘Equal Weight’ rating, citing its fiscal Q3 earnings miss and a slower-than-expected turnaround.

Sentiment on Stocktwits remained in the ‘bearish’ territory compared to a day ago. Message volumes stayed in the ‘high’ zone.

For Q3, Capri Holdings’ adjusted earnings per share came in at $0.45, missing estimates of $0.65. Its revenues fell about 11.6% to $1.26 billion, but were in line with Wall Street estimates.

Capri Holdings sees fiscal 2025 revenue of about $4.4 billion, below consensus estimates of about $4.51 billion, according to Fly.com. It expects FY26 revenue of around $4.1 billion.

Capri Holdings is a fashion luxury group that owns such brands as Versace, Jimmy Choo and Michael Kors.

Capri Holdings stock is up 2.6% year-to-date.

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