Tapestry Likely To Post Higher Q4 Earnings; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts

Tapestry, Inc. TPR is expected to report its financial results for its fiscal 2023 fourth quarter, before the opening bell on Aug. 17, 2023.

Analysts expect the company to post quarterly earnings at 97 cents per share, up from year-ago earnings of 78 cents per share. The company’s revenue might come in at $1.65 billion, compared to $1.62 billion in the year-ago period.

Tapestry recently announced a definitive agreement to acquire Capri Holdings Limited CPRI for $57 per share in cash.

Tapestry shares fell 3% to close at $34.33 on Wednesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Barclays analyst Adrienne Yih upgraded the stock from Equal-Weight to Overweight rating on Aug. 1, 2023. This analyst has an accuracy rate of 72%.
• UBS analyst Jay Sole maintained a Neutral rating and cut the price target from $44 to $42 on March 29, 2023. This analyst has an accuracy rate of 71%.
• Credit Suisse analyst Micheal Binetti maintained an Outperform rating and increased the price target from $45 to $55 on Feb. 10, 2023. This analyst has an accuracy rate of 62%.
• Baird analyst Mark Altschwager maintained an Outperform rating and raised the price target from $45 to $52 on Feb. 10, 2023. This analyst has an accuracy rate of 67%.
• Citigroup analyst Paul Lejuez maintained a Buy rating and boosted the price target from $40 to $50 on Feb. 1, 2023. This analyst has an accuracy rate of 67%.

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