Analysts at Guggenheim have revised their outlook on Capri (CPRI.US) and raised their recommendation on the company’s stock to a “buy” rating from an earlier “neutral.” The analyst team highlights Capri’s low valuation compared to historical earnings and believes that management will take steps to increase shareholder value. The company’s driving force is expected to be the Versace and Jimmy Choo houses at all times.
On the other hand, however, Guggenheim stresses that a full rebuilding of sentiment around the company may require changes in the company’s management, as well as a restructuring of the Michael Kors brand. Guggenheim’s target price was set at $30.
The company’s shares started trading with an upward gap, which brought the company’s shares back near an important resistance zone, which has already negated the rebound attempt 2 times. Source: xStation
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