Barclays analyst Adrienne Yih initiated coverage of Tapestry with an Equal Weight rating and $27 price target. The analyst points to the lack of visibility around the turnaround at Kate Spade brand and a much faster growth in inventory relative to sales. Among the positives, Yih notes the positive global comp performance for the Coach brand and the historically low valuation on the stock.
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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