Tapestry (TPR) Receives a Buy from Wells Fargo

In a report released yesterday, Ike Boruchow from Wells Fargo maintained a Buy rating on Tapestry (TPR – Research Report), with a price target of $60.00. The company’s shares closed yesterday at $40.03.

According to TipRanks, Boruchow is an analyst with an average return of -4.1% and a 42.07% success rate. Boruchow covers the Consumer Cyclical sector, focusing on stocks such as Tapestry, Nike, and Gap.

Currently, the analyst consensus on Tapestry is a Moderate Buy with an average price target of $51.29.

TPR market cap is currently $9.05B and has a P/E ratio of 9.96.

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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.