Tapestry price target raised to $115 from $90 at Morgan Stanley

Morgan Stanley analyst Alex Straton raised the firm’s price target on Tapestry (TPR) to $115 from $90 and keeps an Overweight rating on the shares. For Q4, the firm anticipates “modest” EPS upside and thinks initial fiscal year EPS guidance is likely to be set “a touch above the Street,” which would still position for “ongoing beats & raises,” the analyst tells investors in a preview.