Tapestry price target raised to $165 from $155 at Raymond James

Raymond James raised the firm’s price target on Tapestry (TPR) to $165 from $155 and keeps an Outperform rating on the shares. Tapestry’s Q3 results are expected to come in broadly in line with consensus on EPS, revenue, and margins, with upside potential driven by continued strength in Coach, the analyst tells investors in a research note. Channel checks point to improving traffic trends and reduced promotional activity, supporting ongoing premiumization and pricing power, while Coach AUR remains a key tailwind, the firm says, adding that Kate Spade is still in turnaround mode, and while it remains a drag, overall execution and tariff mitigation efforts are seen as helping offset industry cost pressures.