Barclays has upgraded Tapestry (TPR), causing a 3.1% surge in stock price, however, the company's earnings growth is lagging behind its five-year shareholder returns. The firm's price target has been increased to $70.00 by UBS Group. According to hedge funds, Tapestry might be a top luxury stock. Further, the company has initiated a $2.0 Billion accelerated share repurchase program and is looking to capitalize on Coach's rebranding for future business growth. Tapestry's plans to merge with Capri Holdings Limited have been terminated due to complications with regulatory approval. However, this hasn't deterred the company's growth, with it recently hitting a 12-month high with announcements of Q3 earnings that beat estimates and a significant expansion in gross margin. Additionally, the company has launched an ambitious $2B Share Buyback Program to return 100% of its cash flow. Furthermore, Tapestry has shown substantial Environmental, Social, and Governance (ESG) progress by cutting emissions by 84% as declared in its FY2024 Corporate Responsibility Report.
Tapestry TPR News Analytics from Thu, 01 Aug 2024 07:00:00 GMT to Sat, 11 Jan 2025 02:58:12 GMT -
Rating 8
- Innovation 7
- Information 7
- Rumor 5
