Analyst Matthew Boss from J.P. Morgan maintained a Buy rating on Tapestry and increased the price target to $142.00 from $139.00.
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Matthew Boss has given his Buy rating due to a combination of factors that highlight Tapestry’s strategic positioning and growth potential. The company’s “Amplify Growth” strategy is a key driver, focusing on expanding its consumer base globally, particularly targeting the Gen Z demographic. This approach leverages Tapestry’s strong direct-to-consumer penetration and brand-building capabilities, providing a structural advantage in acquiring new customers, especially in international markets where the company has significant growth opportunities.
Additionally, Tapestry’s financial outlook supports the Buy rating, with expectations for mid-single-digit revenue growth in the coming years. The company’s efforts in increasing digital penetration and implementing cost efficiencies through the “Program Accelerate” are expected to drive accelerated bottom-line growth. The raised price target reflects confidence in Tapestry’s ability to achieve higher operating margins and revenue growth rates compared to pre-pandemic levels, further justifying the positive outlook on the stock.
In another report released yesterday, TD Cowen also reiterated a Buy rating on the stock with a $125.00 price target.
Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TPR in relation to earlier this year.