Tapestry price target raised to $88 from $79 at Raymond James

Raymond James raised the firm’s price target on Tapestry (TPR) to $88 from $79 and keeps an Outperform rating on the shares. Tapestry reported strong Q2 results and raised its guidance, with strong product, marketing, and go-to-market execution that drove Coach’s acceleration and an earlier-than-expected positive inflection in China that bucked industry trends, the analyst tells investors in a research note. The firm says Tapestry is well-positioned to continue driving high-quality growth in revenue, profits and EPS, and remains bullish.