Tapestry price target raised to $92 from $83 at Telsey Advisory

Telsey Advisory raised the firm’s price target on Tapestry (TPR) to $92 from $83 and keeps an Outperform rating on the shares. The company continues to operate from a position of strength despite a challenging macro backdrop, the analyst tells investors. Q2 benefited from a solid topline expansion while gross margin expansion fueled the bottom line beat, the firm adds.