Goldman Sachs analyst Brooke Roach has maintained their bullish stance on TPR stock, giving a Buy rating on February 20.
Brooke Roach’s rating is based on the positive outcomes from recent strategic meetings with Tapestry’s management, which included CEO Joanne Crevoiserat and CFO Scott Roe among others. The engagement with the company’s top executives in San Francisco and Los Angeles has provided key insights, reinforcing the confidence in Tapestry’s future performance.
The Buy rating reflects an anticipation of robust growth for Tapestry, underpinned by effective corporate strategies and the strength of its management team. The analyst’s assessment likely includes considerations of the brand’s market position, potential for expansion, and financial health indicators that suggest a favorable investment opportunity.
In another report released on February 20, Argus Research also maintained a Buy rating on the stock with a $52.00 price target.
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Tapestry (TPR) Company Description:
Tapestry, Inc. engages in the provision of luxury accessories and lifestyle brands. It operates through the following segments: Coach, Kate Spade, Stuart Weitzman, and Corporate. The Coach segment consists global sales of coach brand products to customers through coach operated stores, including the internet and concession shop-in-shops, and sales to wholesale customers, and through independent third party distributors. The Kate Spade segment focuses on Kate Spade New York brand products to customers through Kate Spade operated stores, including the Internet, sales to wholesale customers, through concession shop-in-shops and through independent third party distributors. The Stuart Weitzman segment comprises Stuart Weitzman brand products primarily through Stuart Weitzman operated stores. The Corporate segment represents certain costs that are not directly distributed to a brand. The company was founded by Dawn Hughes in 1941 and is headquartered in New York, NY.
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