Tapestry price target raised to $120 from $115 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Tapestry (TPR) to $120 from $115 and keeps an Overweight rating on the shares. The firm left the company’s investor day with continued confidence in upside to consensus EPS estimates in the next twelve months and beyond, the company’s brand momentum and “attractive tariff resilience” as well as what it sees as likely to be ongoing secular tailwinds within handbags, the analyst tells investors. While the firm sees no major near-term catalyst, it thinks the stock “should grind higher over time,” the analyst added.