Tapestry, Inc. (TPR) has been mentioned prominently in the market news, majorly in a positive light. Due to its excellent performance in Q2 earnings, Wall Street experts, such as Barclays and Guggenheim, have raised TPR's price target to $100.00 and $90.00, respectively. Similarly, Raymond James reiterated its outperform rating for TPR. Capitalizing on strong holiday-quarter results, the luxury giant has increased its annual sales forecast. The primary growth driver has been the soaring sales of Coach products, resulting in a fiscal Q2 earnings spike. As the company exceeded earnings expectations, its composite rating has risen to 97. Institutions including Chicago Partners Investment Group and Trust Point Inc. have recently invested heavily into TPR. Even though ARGA Investment Management LP sold sizeable shares, TPR continues to enjoy strong institutional backing with 89% of its shares being institutionally owned. TPR's bumper performance has even led to unusually high options trading. Anticipation surrounds TPR's next earnings report, with analysts predicting a growth in earnings. Notably, the company has announced a massive $2.0 billion accelerated share repurchase program. Despite a failed merger with Capri Holdings Limited, TPR's overall strong performance has invited Jim Cramer's confidence as he referred to TPR as a 'going-up' stock.
Tapestry TPR News Analytics from Wed, 14 Aug 2024 07:00:00 GMT to Sat, 08 Feb 2025 23:04:01 GMT -
Rating 8
- Innovation 7
- Information 8
- Rumor 7
