Wells Fargo raised the firm’s price target on Tapestry (TPR) to $90 from $85 and keeps an Overweight rating on the shares. The firm says the company’s “bull case stays in focus” following the “robust” fiscal Q3 report. It increased estimates and says Tapestry remains a top pick. Wells continues to see ongoing momentum in Coach and opportunity for “significant” earnings upside with optionality around both Kate Spade and Stuart Weitzman. The analyst’s bull case is $110 per share.
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Read More on TPR:
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- Morning Movers: Tapestry and Crocs rise after quarterly results
- Tapestry sees Q4 EPS over 95c, consensus 99c
- Tapestry reports Q3 non-GAAP EPS $1.03, consensus 88c
- Tapestry raises FY25 EPS view to $5.00 from $4.95-$4.90, consensus $4.92
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