Wells Fargo analyst Ike Boruchow maintains $Tapestry (TPR.US)$ with a buy rating, and maintains the target price at $65.
According to TipRanks data, the analyst has a success rate of 46.1% and a total average return of -2.8% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Tapestry (TPR.US)$'s main analysts recently are as follows:
The halted acquisition of a competitor simplifies the narrative for Tapestry, rendering it more straightforward. Despite intentions to challenge the decision, it is suggested that the company's management might be quietly relieved. This cessation of the deal brings the company's robust free cash flow generation back into the spotlight, and it is anticipated that share repurchases will recommence in fiscal 2025.
The recent court ruling in favor of a preliminary injunction to halt the proposed acquisition between two fashion companies is expected to impact the stock's performance, with the likelihood of the deal progressing appearing diminished. The focus is now shifting back to the core business fundamentals, with anticipation that two key brands under one of the companies will report strong results for fiscal Q1, despite the challenges faced by luxury brands in China. There is an expectation that the company's performance in China could notably contribute to the first fiscal quarter's positive outcome.
Note:
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