TD Cowen recently updated its financial outlook for Capri Holdings Limited (CPRI), adjusting its share price target to $26, a decrease from the previous $32, while consistently endorsing a Buy rating. This recalibration comes on the heels of the company's robust third-quarter results, which surpassed market predictions, primarily driven by strategic product improvements. However, the firm noted that elevated investor expectations are currently moderating the stock's overall performance in the market.
On February 4, 2026, TD Cowen analyst Oliver Chen revised the price target for Capri Holdings Limited (NYSE:CPRI) to $26, down from $32, yet upheld a 'Buy' rating. Chen highlighted that the company's third-quarter outcomes exceeded forecasts, attributing this to enhanced product offerings. Despite these positive developments, he pointed out that elevated market expectations are impeding the stock's ascent. Concurrently, Goldman Sachs also lowered its price target to $24 from $27, maintaining a 'Neutral' stance. The firm observed a sequential improvement in Michael Kors' full-price sales and stronger-than-expected results from Jimmy Choo in Q3. Nevertheless, challenges such as pressure on outlet sales and a wholesale restructuring continue to affect short-term performance. UBS analyst Jay Sole similarly reduced his price target to $22 from $25, also keeping a 'Neutral' rating. Sole indicated that Capri's internal initiatives aimed at revitalizing brand momentum appear to be progressing as planned, but the anticipated recovery is now leaning more towards the latter half of the fiscal year, with an increased risk that the turnaround might extend beyond earlier projections.
Capri Holdings Limited (NYSE:CPRI) announced its third-quarter revenue on February 3, 2026, reporting $1.025 billion, which surpassed the consensus estimate of $1 billion. CEO John Idol commented that these results not only exceeded expectations but also validated the ongoing strategic efforts at Michael Kors and Jimmy Choo, which are designed to foster long-term growth. The company aims for a return to growth in fiscal year 2027. Idol also highlighted the successful divestiture of Versace, with the proceeds significantly reducing the company's debt, resulting in a net debt of $80 million by the end of the quarter. Capri Holdings Limited is involved in the design, marketing, distribution, and retail of branded apparel, footwear, and accessories for both women and men across various global markets, including the United States, Canada, Latin America, Europe, the Middle East, Africa, Asia, and Oceania.
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