Tapestry initiated with a Neutral at Guggenheim

Guggenheim analyst Simeon Siegel initiated coverage of Tapestry (TPR) with a Neutral rating and no price target The retail sector still seems to be perceived as “structurally sick,” but the firm says “holiday brought the cheer,” tariffs have been manageable so far and “most importantly and likely going unnoticed” is the fact that the majority of the firm’s coverage actually operates at, or close to, their gross margin peaks.