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TPR

Tapestry

$20.50

0.01 (0.05%)

05:40
08/29/19
08/29
05:40
08/29/19
05:40

Tapestry downgraded to Market Perform from Outperform at Cowen

Cowen analyst Oliver Chen downgraded Tapestry to Market Perform from Outperform.

TPR Tapestry
$20.50

0.01 (0.05%)

08/16/19
08/16/19
DOWNGRADE
Target $21

Neutral
Tapestry downgraded to Neutral from Buy at MKM Partners
As previously reported, MKM Partners analyst Roxanne Meyer downgraded Tapestry to Neutral and slashed her price target to $21 from $52 after its Q4 results. The analyst notes that her prior Buy rating was predicated on expectations of continued momentum at Coach and an inflection at Kate Spade, adding that while Coach performed well in spite of the macro headwinds, Kate Spade's soft outlook implies a "deterioration of trends" that may require several quarters to fix. Meyer states that after yesterday's 22% sell-off, the downside in Tapestry stock is limited, though she also does not see any positive catalysts to drive "material upside".
08/16/19
NEED
08/16/19
NO CHANGE
Target $35
NEED
Buy
Tapestry price target lowered to $35 from $42 at Needham
Needham analyst Rick Patel lowered his price target on Tapestry to $35 and also cut his FY20 EPS view to $2.57 from $2.83 following its Q4 earnings and a "considerably lower" reset in expectations, driven by the comps miss at Kate Spade. The analyst still keeps his Buy rating however, noting that Tapestry's Coach business continues to perform well in a tough environment, and the assumptions for Kate Spade are now reflected in guidance with an "appropriately low bar" based on the brand's "poor visibility." After yesterday's 22% stock price sell-off, Patel believes that risk/reward on Tapestry is still favorable.
08/16/19
08/16/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. BHP Group (BHP) downgraded to Underperform from Neutral at BofA/Merrill with analyst Jason Fairclough saying the Chinese economy is likely to get worse before getting better. 2. Hexcel (HXL) downgraded to Sell from Neutral at Goldman Sachs with analyst Noah Poponak saying after re-rating year-to-date, the shares are the high-end of the historical valuation range. 3. Tapestry (TPR) downgraded to Perform from Outperform at Oppenheimer, to Neutral from Buy at MKM Partners, to Neutral from Conviction Buy at Goldman Sachs, to Neutral from Overweight at Piper Jaffray, and to Neutral from Outperform at Credit Suisse. 4. Whiting Petroleum (WLL) downgraded to Market Perform from Outperform at Wells Fargo with analyst Gordon Douthat saying the company's free cash generation potential is highly sensitive to oil price levels. 5. Best Inc (BEST) downgraded to Sector Weight from Overweight at KeyBanc with analyst Hans Chung citing the company's Q2 results. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/20/19
BOFA
08/20/19
NO CHANGE
BOFA
BofA/Merrill US 1 List changes
BofA/Merrill added Raytheon (RTN) to the US 1 List and removed AT&T (T), Williams (WMB), General Dynamics (GD) and Tapestry (TPR).

TODAY'S FREE FLY STORIES

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TBLT

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MYO

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AKER

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ECA

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