Free Trial

Tapestry (TPR; Baa2, BBB+; double Neg)

CONSUMER CYCLICALS

Chunky cut here from Jefferies. Sell-side consensus we've generally seen as lagging the Capri equities pricing out of deal closure (at $57) - equities started their slide even before official FTC block was announced. Looks like views on deal are shifting here now, could be wake up call particularly for $TPR lines (though does have higher coupon carry).

News Article: Capri Holdings PT Cut to $38 from $57 at Jefferies

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.