12:15 PM EDT, 08/06/2025 (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 raise our 12-month price target by $1 to $16, based on 12.3x our FY 26 (Mar.) EPS estimate and above the company's three- and five-year average forward P/E multiple of roughly 11x. We lower our FY 26 and FY 27 EPS estimates by $0.20 to $1.30 and $0.25 to $1.75 respectively. PRI posted normalized FQ1 (Mar.) EPS of $0.48 vs. $0.04, $0.36 above consensus estimates on revenues of $797M vs. $1.1B and $24M above consensus. By brand in FQ1, Michael Kors revenues on a constant currency basis declined 7.3% while Jimmy Choo declined 9.2%. The company expects the sale of its Versace brand to close in the second half of the year and left those numbers out of the release. FQ1 gross margin was flat Y/Y at 63.0%. The company expects revenue of $3.4B and EPS of $1.30 at the midpoint for the full fiscal year, accounting for current tariff deals and 30% tariffs on China. We believe the 70% increase in shares since April provides a great exit point for investors as shares trade well above its average forward P/E multiple.