BMO Capital analyst Simeon Siegel raised the firm’s price target on Tapestry (TPR) to $60 from $55 and keeps a Market Perform rating on the shares after meeting with its management team. The company had expressed palpable confidence and excitement regarding its trajectory, with discussions hitting its strategies and priorities, winning with new and existing customers, sustaining Coach strength and margins, and improving KSNY performance, the analyst tells investors in a research note. Investors are interested in owning Tapestry shares, and the company’s strong Q2 results, deal-uncertainty removal, and buybacks bolsters that positivity, BMO adds.
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