BUZZ - Capri Holdings, the parent company of Michael Kors, shares rise as Raymond James upgrades rating to "Strong Buy"

October 16 - ** Capri Holdings (CPRI.N) shares rose about 2% in early trading to $16.11

** Raymond James upgraded the stock from “Outperform” to “Strong Buy”

** The firm stated that the recent weakness in the stock has lowered market expectations, creating a highly attractive buying opportunity

** It is expected that as the company benefits from improved product quality and inventory availability, business trends will improve in the second half of fiscal 2027

** The report notes that if Capri can return to revenue growth while maintaining stringent cost control, there is significant room for long-term margin improvement

** Out of 17 brokerages, 8 rate the stock as “Buy” or higher, and 9 as “Hold”; the median target price is $20—data compiled by LSEG

** As of the previous trading day’s close, the stock is down about 35% year-to-date

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