Tapestry price target raised to $35 from $29 at KeyBanc » 07:1111/2311/23/20
KeyBanc analyst Matthew…
KeyBanc analyst Matthew DeGulis raised the firm's price target on Tapestry to $35 from $29 and keeps an Overweight rating on the shares. In Softlines, this Q3 is shaping up to be one of the better quarters in recent memory, with most companies posting solid revenue beats, the analyst contends, adding that he thinks Tapestry is best positioned for holiday.
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Verizon resumption, Tapestry upgrade among today's top calls on Wall Street » 09:5111/1611/16/20
VZ, T, TMUS, TPR, PDD, BABA, VIPS, LI, CHWY
Check out today's top…
Tapestry upgraded to Overweight with $35 price target at JPMorgan » 06:0011/1611/16/20
JPMorgan analyst Matthew…
JPMorgan analyst Matthew Boss upgraded Tapestry to Overweight from Neutral with a price target of $35, up from $25. The shares have underperformed the S&P 500 Index by 80% the past three years, Boss tells investors in a research note. Further, Tapestry CEO Joanne Crevoiserat showed "clear confidence" in the company's multi-year earnings acceleration during recent meetings, adds the analyst.
Tapestry upgraded to Overweight from Neutral at JPMorgan » 05:2211/1611/16/20
JPMorgan analyst Matthew…
JPMorgan analyst Matthew Boss upgraded Tapestry to Overweight from Neutral with a $35 price target.
Tapestry upgraded to Outperform from Market Perform at Cowen » 05:4711/1111/11/20
Cowen analyst Oliver Chen…
Cowen analyst Oliver Chen upgraded Tapestry to Outperform from Market Perform with a price target of $30, up from $25.
Tapestry price target raised to $25 from $17 at MKM Partners » 09:1710/3010/30/20
MKM Partners analyst…
MKM Partners analyst Roxanne Meyer raised the firm's price target on Tapestry to $25 from $17 and keeps a Neutral rating on the shares. The company's Q1 results were "significantly better than expected" thanks to the combination of ongoing product innovation, "leveraging of customer data", and "more efficient" marketing at Coach, the analyst tells investors in a research note.
Tapestry price target raised to $28 from $21 at Deutsche Bank » 07:2210/3010/30/20
Deutsche Bank analyst…
Deutsche Bank analyst Paul Trussell raised the firm's price target on Tapestry to $28 from $21 and keeps a Buy rating on the shares. The company's "very strong" fiscal Q1 results "checked all the boxes, satisfying the bulls and encouraging the skeptics," Trussell tells investors in a research note.
Tapestry CEO says Q1 results 'exceeded expectations' » 06:4810/2910/29/20
Joanne Crevoiserat, CEO…
Joanne Crevoiserat, CEO of Tapestry, said, "We are very pleased with our first quarter results, which exceeded expectations and demonstrated the bold actions we are implementing as part of our Acceleration Program. We delivered strong profit growth across our portfolio of brands in the face of an unprecedented and challenging backdrop. We drove a meaningful sequential improvement in topline trends, supported by strength in Digital and China. At the same time, we expanded gross margin by deliberately reducing promotional activity and raising AUR, while also tightly controlling SG&A expense. Taken together, we achieved a significant increase in EPS and generated positive free cash flow." Crevoiserat continued, "Our performance underscores the power of our brands, the agility of our talented teams and the competitive advantage of Tapestry's enabling platform. Importantly, it also reinforces the potential of our Acceleration Program. Guided by an unwavering focus on the consumer and supported by new ways of working, we are positioning the company to successfully navigate the dynamic environment and drive long-term, sustainable growth."
Tapestry not providing detailed guidance for fiscal FY21 » 06:4610/2910/29/20
Due to the dynamic nature…
Due to the dynamic nature of the Covid-19 crisis and lack of visibility, the potential financial impact to our business cannot be accurately projected. Therefore, the company is not providing detailed guidance for fiscal 2021. However, given the strong start to the fiscal year and assuming a continued steady recovery emerging from the pandemic, the company continues to expect a topline inflection in the second half of the fiscal year, with both revenue and bottom line growth now projected for fiscal 2021. The company also notes that fiscal 2021 includes a 53rd week in its fourth fiscal quarter.
Tapestry reports Q1 adjusted EPS 58c, consensus 23c » 06:4510/2910/29/20
Reports Q1 revenue…
Reports Q1 revenue $1.17B, consensus $1.07B.