Morgan Stanley Reinstates Equal-Weight on Tapestry, Announces $38 Price Target
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Alexandra Steiger has reinstated an Equal-Weight rating on Tapestry (NYSE:TPR) and set a price target of $38.
December 12, 2023 | 11:41 am
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Morgan Stanley analyst Alexandra Steiger reinstated Tapestry with an Equal-Weight rating and a price target of $38.
The reinstatement of an Equal-Weight rating typically suggests a neutral outlook on the stock, indicating that the analyst believes the company's stock performance will be in line with the sector average. The price target of $38 suggests a level that the analyst believes the stock will reach. The impact on the stock price in the short term is likely to be moderate, as the rating does not suggest significant undervaluation or overvaluation.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100