Capri Holdings Likely To Post Sharp Decline In Q1 Earnings; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts

Capri Holdings Limited CPRI is expected to report its first quarter fiscal 2024 financial results, before the opening bell on Aug. 10, 2023.

Analysts expect the company to post quarterly earnings at 71 cents per share, down from year-ago earnings of $1.5 per share. The company’s revenue might come in at $1.2 billion, down from $1.36 billion in the year-ago period.

Tapestry TPR is nearing a deal to buy Capri Holdings, the Wall Street Journal reported.

Capri Holdings shares fell 1.7% to close at $34.61 on Wednesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Morgan Stanley analyst Alex Straton downgraded the stock from Overweight to Equal-Weight and cut the price target from $55 to $40 on June 13, 2023. This analyst has an accuracy rate of 78%.
• Guggenheim analyst Robert Drbul maintained a Buy rating and cut the price target from $61 to $51 on June 1, 2023. This analyst has an accuracy rate of 73%.
• Raymond James analyst Rick Patel maintained a Strong Buy rating and lowered the price target from $60 to $55 on June 1, 2023. This analyst has an accuracy rate of 85%.
• Barclays analyst Adrienne Yih maintained an Equal-Weight rating and slashed the price target from $46 to $38 on June 1, 2023. This analyst has an accuracy rate of 72%.
• UBS analyst Jay Sole maintained a Buy rating and cut the price target from $68 to $59 on March 29, 2023. This analyst has an accuracy rate of 71%.

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