Capri Holdings’ stock price rose by 7.9% to $21.88 on Monday, bringing its market capitalization to $2.6 billion. This increase was primarily driven by BMO analyst Simeon Siegel upgrading the stock to “Outperform” with a target price of $31. Siegel believes the market has been overly negative about Capri, especially after the failed acquisition deal with Tapestry, which caused the stock to drop by about 60% in the past few years, while the S&P 500 rose by 24.7%. Following the acquisition failure, Capri’s CEO John Idol has actively adjusted the company’s strategy, planning to accelerate the development of its brands Michael Kors, Versace, and Jimmy Choo. Versace and Jimmy Choo are currently in the process of being sold, with Barclays managing the transaction.