UBS Maintains Neutral Rating for Tapestry: Here's What You Need To Know

UBS has decided to maintain its Neutral rating of Tapestry TPR and lower its price target from $44.00 to $39.00.

Shares of Tapestry are trading down 1.54% over the last 24 hours, at $31.75 per share.

A move to $39.00 would account for a 22.82% increase from the current share price.

About Tapestry

Coach, Kate Spade, and Stuart Weitzman are the fashion and accessory brands that comprise Tapestry. The firm's products are sold through about 1,400 company-operated stores, wholesale channels, and e-commerce in North America (67% of fiscal 2022 sales), Europe, Asia (28% of fiscal 2022 sales), and elsewhere. Coach (74% of fiscal 2022 sales) is best known for affordable luxury leather products. Kate Spade (22% of fiscal 2022 sales) is known for colorful patterns and graphics. Women's handbags and accessories produced 69% of Tapestry's sales in fiscal 2022. Stuart Weitzman, Tapestry's smallest brand, generates nearly all its revenue from women's footwear.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.