RBC Capital analyst Brian Tunick raised his price target on Tapestry to $58, saying its Q4 results followed a "choppier" Q3 and helped restore confidence in the company's status as a "house of brands". Tunick adds that Tapestry's FY19 guidance was better than anticipated, with longer-term algorithm for a double-digit earnings growth from multiple brand drivers remaining on track. The analyst kept his Outperform rating on Tapestry.

Capri Holdings (CPRI) shares could fall to the low-to-mid $20s if Tapestry's (TPR) $57 per share takeover is successfully blocked by the Federal Trade Commission, Yiqin Shen of Bloomberg reports, citing a survey of 20 merger-arbitrage specialists. The survey, conducted on Tuesday, focuses on merger-arbitrage estimates on the Capri's downside price - a level that reflects the stock's fundamental value by the end of 2024, when the outcome of the FTC's challenge is expected to be either upheld or overturned in court, Shen notes. Shares of Capri Holdings are down 5% to $34.81 in midday trading.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here