Robert W. Baird Reiterates Their Buy Rating on Tapestry Inc

By Jason Carr

Robert W. Baird analyst Mark Altschwager reiterated a Buy rating on Tapestry Inc (NYSE: TPR) on December 21 and set a price target of $50. The company’s shares closed yesterday at $44.38.

According to TipRanks.com, Altschwager is a 2-star analyst with an average return of 0.3% and a 43.4% success rate. Altschwager covers the Services sector, focusing on stocks such as Lululemon Athletica Inc, Abercrombie Fitch, and Urban Outfitters.

Tapestry Inc has an analyst consensus of Moderate Buy, with a price target consensus of $48.29.

Based on Tapestry Inc’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $1.29 billion and GAAP net loss of $17.7 million. In comparison, last year the company earned revenue of $1.04 billion and had a net profit of $117 million.

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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.