Redburn Atlantic upgraded Tapestry (TPR) to Buy from Neutral with a $110 price target The firm says the company’s brands are “excitingly positioned within the attractive premium accessories category.” Brand momentum at Tapestry’s core Coach brand has accelerated over the past year, and channel work points to incremental premium sales growth and margin expansion potential, the analyst tells investors in a research note. Meanwhile, Redburn believes the smaller brands in the portfolio are a longer-term improvement opportunity – particularly Kate Spade.
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