Wells ups Tapestry price target to $120, says buy on weakness

Wells Fargo raised the firm’s price target on Tapestry (TPR) to $120 from $100 and keeps an Overweight rating on the shares, telling investors to be buyers as shares slide due to a “weak” FY26 outlook. While bulls expected guidance closer to $5.75-$6.00, Tapestry guiding to FY26 EPS of $5.30-$5.45 has sent shares lower, but the firm contends that the Q1 guidance is “actually extremely bullish” and adds that it sees “no real fundamental concern here.”