Raymond James analyst Rick Patel raised the firm’s price target on Tapestry (TPR) to $115 from $85 and keeps an Outperform rating on the shares. Coach’s strong momentum should continue and the brand has better pricing power than most brands, the analyst tells investors. Kate Spade is still a work-in-progress, but a turnaround or brand sale down the road present stock optionality, the firm argues.
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