Tapestry price target raised to $75 from $65 at Wells Fargo

Wells Fargo raised the firm’s price target on Tapestry (TPR) to $75 from $65 and keeps an Overweight rating on the shares. Tapestry’s deal with Capri Holdings (CPRI) is officially terminated, and Tapestry is redeeming the deal debt and announced a $2B buyback, likely adding at least 75c to EPS, the analyst tells investors in a research note. The firm sees FY26 EPS power of around $6.00 and valuation upside to 15x, which drives a near-term bull case of $90.