Tapestry price target raised to $126 from $124 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Tapestry (TPR) to $126 from $124 and keeps an Overweight rating on the shares. Tapestry delivered a Q3 headline beat, but fell short of a higher buyside bar, which coupled with more negative sector sentiment sent the stock down 10%, the analyst tells investors. The firm, which sees upside potential to both FY26 guidance and long-term targets as well as “ongoing stand-out brand heat,” calls yesterday’s pullback a “potentially attractive entry point.”