Michael Kors parent Capri rises after Raymond James upgrades to 'strong buy'

By Reuters News15:01 (UTC), 16 October 2026 Updated

** Shares of Capri Holdings CPRI.N up ~2% at $16.11 in morning trading

** Raymond James upgrades the stock to "strong buy" from "outperform"

** Says the stock's recent weakness has lowered expectations, creating an attractive buying opportunity

** Sees business trends improving in the second half of fiscal 2027 as the company benefits from stronger products and improved inventory availability

** Says there is significant upside to profit margins over the longer term if Capri returns to revenue growth while maintaining expense discipline

** Eight of 17 brokerages rate the stock "buy" or "higher", nine "hold"; their median PT is $20 - data compiled by LSEG

** Up to last close, stock down about 35% YTD

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