Telsey Advisory Group Maintains Outperform Rating for Tapestry: Here's What You Need To Know
Telsey Advisory Group has decided to maintain its Outperform rating of Tapestry (NYSE:TPR) and lower its price target from $56.00 to $46.00.
Shares of Tapestry are trading up 3.98% over the last 24 hours, at $31.85 per share.
A move to $46.00 would account for a 44.43% increase from the current share price.
Coach, Kate Spade, and Stuart Weitzman are the fashion and accessory brands that comprise Tapestry. The firm's products are sold through about 1,400 company-operated stores, wholesale channels, and e-commerce in North America (62% of fiscal 2021 sales), Europe, Asia (33% of fiscal 2021 sales), and elsewhere. Coach (74% of fiscal 2021 sales) is best known for affordable luxury leather products. Kate Spade (21% of fiscal 2021 sales) is known for colorful patterns and graphics. Women's handbags and accessories produced 70% of Tapestry's sales in fiscal 2021. Stuart Weitzman, Tapestry's smallest brand, generates nearly all (99%) of its revenue from women's footwear.
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