Tapestry price target raised to $54 from $49 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Tapestry (TPR) to $54 from $49 and keeps an Outperform rating on the shares. After hosting a meeting with the company’s senior management, the firm believes management’s tone was overall positive and the company remains confident in completing the Capri Holdings (CPRI) acquisition, the analyst tells investors. The firm is raising its price target on the stock based on what it sees as management’s strong execution in an attractive, high margin category.