In a report released yesterday, Oliver Chen from TD Cowen maintained a Buy rating on Tapestry, with a price target of $175.00.
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Oliver Chen has given his Buy rating due to a combination of factors tied to Tapestry’s updated earnings outlook and valuation framework. He has refreshed his financial model to incorporate the company’s latest reported results, and on that basis continues to see meaningful upside in the shares relative to the current trading level.
In addition, he has lifted his price target to $175, which is grounded in applying a 24x multiple to his forecasted FY2 earnings per share. This valuation approach signals his confidence in the company’s medium‑term earnings power and supports the view that the stock remains attractively positioned for investors at present levels.
In another report released yesterday, J.P. Morgan also maintained a Buy rating on the stock with a $179.00 price target.