09:30 AM EDT, 05/30/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We maintain our 12-month price target of $55, based on 11.0x our FY 25 (Mar.) EPS estimate and above the company's five-year average forward P/E multiple of 9.2x. We lower our FY 25 EPS estimate by $1.00 to $5.00 and initiate our FY 26 EPS estimate at $5.50. CPRI posted normalized Q4 EPS of $0.42 vs. $0.97, $0.26 below consensus estimates on revenues of $1.22B vs. $1.34B and $83M below estimates. Management stated the quarter was impacted by softening demand globally for luxury goods with sales trends improving in its retail channel in the Americas and EMEA while trends slowed in Asia. The CEO firmly believes the company will be acquired by Tapestry (TPR 42 ****) even though the FTC has filed to block the transaction. Although the company had a down FY 24, we believe the company's brands still resonate with consumers and we see plenty of value in shares. The company has generated significant cash flow in recent years and shares trade at an extremely low valuation with extremely low expectations for the future.