Goldman Sachs Maintains Buy on Tapestry, Lowers Price Target to $41
Portfolio Pulse from Benzinga Newsdesk
Goldman Sachs analyst Brooke Roach has maintained a Buy rating on Tapestry (NYSE:TPR) but has reduced the price target from $46 to $41.
November 13, 2023 | 1:34 pm
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Goldman Sachs reaffirms a Buy rating on Tapestry but lowers the price target to $41, indicating a positive outlook with a more conservative valuation.
The maintenance of a Buy rating suggests that Goldman Sachs continues to see Tapestry as a good investment. However, the reduction in the price target may reflect a more cautious stance on the company's valuation, possibly due to market conditions or company-specific factors not detailed in the article. This could lead to a neutral short-term impact on the stock as the positive sentiment of the Buy rating is counterbalanced by the lowered price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100