Morgan Stanley Remains a Hold on Tapestry (TPR)
Morgan Stanley analyst Kimberly Greenberger maintained a Hold rating on Tapestry (TPR) today and set a price target of $12.00. The company’s shares closed last Monday at $14.81.
According to TipRanks.com, Greenberger is a 5-star analyst with an average return of 11.6% and a 59.9% success rate. Greenberger covers the Consumer Goods sector, focusing on stocks such as Lululemon Athletica, Abercrombie Fitch, and Acushnet Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Tapestry with a $20.94 average price target, implying a 43.6% upside from current levels. In a report issued on April 24, Deutsche Bank also maintained a Hold rating on the stock with a $16.00 price target.
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Tapestry’s market cap is currently $4.18B and has a P/E ratio of 7.40. The company has a Price to Book ratio of 25.94.
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Tapestry, Inc. engages in the provision of luxury accessories and lifestyle brands. It operates through the following segments: Coach, Kate Spade, Stuart Weitzman, and Corporate. The Coach segment consists global sales of coach brand products to customers through coach operated stores, including the internet and concession shop-in-shops, and sales to wholesale customers, and through independent third party distributors. The Kate Spade segment focuses on Kate Spade New York brand products to customers through Kate Spade operated stores, including the Internet, sales to wholesale customers, through concession shop-in-shops and through independent third party distributors. The Stuart Weitzman segment comprises Stuart Weitzman brand products primarily through Stuart Weitzman operated stores. The Corporate segment represents certain costs that are not directly distributed to a brand. The company was founded by Dawn Hughes in 1941 and is headquartered in New York, NY.
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