Cowen analyst Oliver Chen lowered his price target on Tapestry to $22 from $34 following Q4 results. The analyst noted its lowered guidance which brings earnings down to flat versus expectations for double digit growth with its Kate Spade division needing more distinctive newness in the outlet channel. Chen maintained his Buy rating on Tapestry shares as management addresses challenges at Kate Spade.
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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