Bank of America Securities analyst Lorraine Hutchinson reiterated a Buy rating on Tapestry (TPR – Research Report) today and set a price target of $95.00.
Lorraine Hutchinson has given her Buy rating due to a combination of factors that highlight Tapestry’s strong market position and growth potential. She anticipates that the upcoming third-quarter earnings will demonstrate the continued brand momentum that Coach has achieved, particularly with a younger customer base. This momentum is expected to support consistent and profitable growth for Tapestry.
Additionally, Hutchinson points out that Tapestry’s innovation strategy is still in its early stages, with a history of successful product lines like the Tabby and New York handbags, which are poised for long-term growth. Despite potential tariff risks, Tapestry is well-positioned to offset these through strategic price increases, leveraging Coach’s brand strength. Hutchinson also expects a strong financial performance in the upcoming quarter, driven by Coach, and believes that Tapestry will maintain or slightly raise its fiscal year guidance, further justifying the Buy rating.
In another report released on April 22, Jefferies also maintained a Buy rating on the stock with a $80.00 price target.
Based on the recent corporate insider activity of 49 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.