Evercore ISI Group Upgrades Tapestry: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Evercore ISI Group upgraded Tapestry (NYSE:TPR) to Outperform with a new price target of $50.00, up from $30.00. Tapestry's shares have risen 1.35% in the last 24 hours to $40.55. The firm owns brands like Coach, Kate Spade, and Stuart Weitzman, and recently agreed to acquire Capri, adding brands like Michael Kors, Versace, and Jimmy Choo.
February 05, 2024 | 5:00 pm
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Evercore ISI Group upgraded Tapestry's rating to Outperform and increased the price target from $30.00 to $50.00. Tapestry's shares are currently trading up, and the firm recently announced the acquisition of Capri, expanding its brand portfolio.
The upgrade by Evercore ISI Group to Outperform and the significant increase in price target reflect a strong positive outlook on Tapestry's stock. The recent acquisition of Capri, adding renowned brands to its portfolio, further bolsters this view. Given these developments, a short-term positive impact on Tapestry's stock price is likely, supported by the analyst's confidence and the recent share price movement.
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IMPORTANCE 90
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