Tapestry Likely To Post Higher Q4 Earnings; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts
Portfolio Pulse from Lisa Levin
Tapestry, Inc. (NYSE:TPR) is expected to report higher Q4 earnings of 97 cents per share, up from 78 cents per share a year ago. The company's revenue is projected to be $1.65 billion, slightly higher than the $1.62 billion in the same period last year. Tapestry recently announced plans to acquire Capri Holdings Limited (NYSE:CPRI) for $57 per share in cash. Several analysts have updated their ratings and price targets for Tapestry, with most maintaining a positive outlook.
August 17, 2023 | 6:15 am
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POSITIVE IMPACT
Capri Holdings is being acquired by Tapestry for $57 per share in cash.
The acquisition by Tapestry is a significant event for Capri Holdings. The cash offer of $57 per share could potentially boost the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Tapestry is expected to report higher Q4 earnings and has announced plans to acquire Capri Holdings. Despite a recent share price drop, analysts maintain a positive outlook.
The expected increase in earnings and the acquisition of Capri Holdings are positive developments for Tapestry. Despite a recent drop in share price, analysts' positive ratings and increased price targets suggest confidence in the company's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100