Cowen analyst Oliver Chen lowered his price target on Tapestry to $42 from $62 following Q2 results. The analyst believes the company may have taken a step backwards and valuation is likely to be held back in the near-term as Kate Spade results disappointed. He believes investors are likely to focus on new risks and global uncertainties and the company's ability to balance margin expansion versus growth. Chen maintained his Outperform rating on Tapestry shares.
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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