On Oct 26, major Wall Street analysts update their ratings for $Tapestry (TPR.US)$, with price targets ranging from $63 to $66.
J.P. Morgan analyst Matthew Boss maintains with a buy rating, and adjusts the target price from $51 to $66.
BofA Securities analyst Lorraine Hutchinson maintains with a buy rating.
Wells Fargo analyst Ike Boruchow maintains with a buy rating, and maintains the target price at $65.
Evercore analyst Michael Binetti maintains with a buy rating, and adjusts the target price from $47 to $63.
Furthermore, according to the comprehensive report, the opinions of $Tapestry (TPR.US)$'s main analysts recently are as follows:
The impediment of the Capri Holdings acquisition is seen as beneficial for Tapestry, allowing the company to concentrate on its reliable, high-margin, and strong cash flow generating operations instead of attempting to revitalize a floundering brand. The company is now positioned to reduce the debt incurred for the transaction and revert to a strategy focused on overall shareholder returns, characterized by a consistent and increasing dividend combined with substantial share repurchases.
The unsuccessful acquisition attempt of Capri Holdings has streamlined the narrative for Tapestry, offering a 'cleaner' outlook. Despite intentions to appeal the decision, it's possible that the management is quietly relieved. This development redirects attention to Tapestry's robust capacity to generate free cash flow, and it's anticipated that the company will recommence share repurchases in fiscal 2025.
Following a court ruling that supports the FTC in preliminarily blocking the acquisition of Capri Holdings by Tapestry, expectations have shifted, indicating that the stock may respond as if the deal will not proceed. Despite the ongoing appeal process, attention is turning back to company fundamentals. It is anticipated that both Coach and Kate Spade delivered strong performances in the first fiscal quarter, with results due on November 7. Notably, despite the challenges faced by luxury brands in China, Coach's performance in the region may provide a positive surprise for the quarter.
Here are the latest investment ratings and price targets for $Tapestry (TPR.US)$ from 4 analysts:
Note:
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