Telsey Advisory Remains a Buy on Tapestry (TPR)

Telsey Advisory analyst Dana Telsey maintained a Buy rating on Tapestry (TPR – Research Report) today and set a price target of $54.00. The company’s shares closed yesterday at $49.03.

Telsey covers the Consumer Cyclical sector, focusing on stocks such as Victoria’s Secret, Abercrombie Fitch, and Tapestry. According to TipRanks, Telsey has an average return of -1.7% and a 37.96% success rate on recommended stocks.

Tapestry has an analyst consensus of Moderate Buy, with a price target consensus of $53.75, representing a 9.63% upside. In a report released yesterday, Citi also reiterated a Buy rating on the stock with a $55.00 price target.

Based on Tapestry’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.59 billion and a net profit of $159.3 million. In comparison, last year the company earned a revenue of $1.62 billion and had a net profit of $224.1 million

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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.