08:25 AM EDT, 05/09/2024 (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 $47, based on 11.1x our FY 24 (Jun.) EPS estimate and in line with the company's 5-year average forward P/E multiple of 11.0x. We maintain our FY 24 and FY 25 EPS estimates of $4.25 and $7.50, respectively. TPR posts normalized Q3 EPS of $0.81 vs. $0.78, $0.13 above consensus estimates on revenues of $1.48B vs. $1.51B and $17M below estimates. By brand in Q3, Coach revenues were flat Y/Y, Kate Spade declined 6%, and Stuart Weitzman declined 18%. Sales of the company's largest brand remained stable, which is our reasoning behind the upgrade. The company maintained its full-year guidance and still believes the acquisition of Capri will close even with the lawsuit from the FTC. We believe shares are significantly undervalued with or without the merger and raise our opinion as shares trade below 9x NTM EPS estimates. TPR continues to generate significant cash flow and has generated $1B in the first 9 months of its fiscal year.