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Canaccord Genuity Reiterates Their Buy Rating on Tapestry Inc (TPR)


Canaccord Genuity analyst Camilo Lyon reiterated a Buy rating on Tapestry Inc (NYSE: TPR) yesterday and set a price target of $55. The company’s shares closed on Friday at $47.93.

According to TipRanks.com, Lyon is a 3-star analyst with an average return of 2.3% and a 48.7% success rate. Lyon covers the Consumer Goods sector, focusing on stocks such as Canada Goose Holdings Inc, Columbia Sportswear, and Deckers Outdoor.

Tapestry Inc has an analyst consensus of Strong Buy, with a price target consensus of $57.83, a 20.7% upside from current levels. In a report issued on July 31, UBS also reiterated a Buy rating on the stock with a $59 price target.

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Based on Tapestry Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $140 million. In comparison, last year the company had a net profit of $152 million.

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Tapestry, Inc. engages in the provision of modern luxury accessories and lifestyle brands. It operates through the following segments: North America, International, and Stuart Weitzman. The North America segment consists of Coach brand sales to consumers through stores, including the Internet, and sales to wholesale customers.