Loop Capital analyst Laura Champine lowered her price target on Tapestry to $36 and kept her Hold rating, modeling a more conservative rate of revenue growth for the company over the near term. The analyst also lowers her FY19 EPS view by 17c to $2.61 to reflect her reduced forecast of Coach brands comps at 1% vs. 3% prior view. Champine attributes the slower growth grade to the economic slowdown in Asia, particularly China, and some "modest market share losses" in the U.S.
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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