Canaccord Genuity Reiterates a Buy Rating on Tapestry Inc

Canaccord Genuity analyst Camilo Lyon reiterated a Buy rating on Tapestry Inc (NYSE: TPR) today and set a price target of $58. The company’s shares opened today at $47.

According to TipRanks.com, Lyon is a 1-star analyst with an average return of -0.8% and a 47.3% success rate. Lyon covers the Consumer Goods sector, focusing on stocks such as Columbia Sportswear, Sequential Brands, and Steven Madden.

Currently, the analyst consensus on Tapestry Inc is Strong Buy and the average price target is $57.60, representing a 22.6% upside.

In a report issued on April 19, Deutsche Bank also maintained a Buy rating on the stock with a $64 price target.

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Tapestry Inc’s market cap is currently $13.52B and has a P/E ratio of 42.38. The company has a book value ratio of 4.5828.

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock.

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Tapestry, Inc. is a New York-based house of modern luxury lifestyle brands. The company’s portfolio includes the Coach, Kate spade New York, and Stuart Weitzman brands.