Tapestry price target raised to $160 from $150 at BofA

BofA raised the firm’s price target on Tapestry (TPR) to $160 from $150 and keeps a Neutral rating on the shares. Tapestry not only reported “stellar sales growth,” but now expects to fully offset tariffs over time and guided Q3 well above consensus, the analyst tells investors. This is “surprising versus a conservative stance historically and is likely a positive signal on QTD trends,” adds the analyst, who raised the firm’s target to reflect peer multiple expansion.