BofA lowered the firm’s price target on Tapestry (TPR) to $110 from $115 and keeps a Neutral rating on the shares. Coach’s sales momentum remains very strong, but incremental tariff pressure caused 2026 guidance of $5.30-$5.45 to fall below consensus, the firm says. BofA remains on the sidelines as it thinks the Coach brand has several more quarters of outsized growth ahead, but tariff headwinds will weigh on growth.
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