Analysts’ actions following fiscal 2Q18
No analysts changed their recommendations on Tapestry (TPR) after its fiscal 2Q18 results. However, a large number of analysts raised their price targets on the company.
Susquehanna bumped TPR’s price target from $57 to $60, Canaccord Genuity from $58 to $59, Cowen and Company from $54 to $56, Jefferies from $42 to $48, and JPMorgan Chase from $45 to $48.
Ratings and recommendations
A total of 36 Wall Street analysts cover Tapestry. Of these analysts, 61% have recommended “buys” on the stock, 36% have recommended “holds,” and 3% have recommended “sells.” On a scale of 1 (strong buy) to 5 (strong sell), the company is rated a 2.2.
Tapestry has a higher number of “buy” ratings than handbag rival Michael Kors (KORS) at 32% and apparel peers Ralph Lauren (RL) and VFC at 11% and 48%, respectively. PVH Corporation (PVH), however, has been called a “buy” by 81% of analysts.
Buckingham, UBS, and Susquehanna are among the brokers who have recommended “buys” on the stock, while Jefferies and Barclays have suggested “holds.”
Tapestry stock could rise another 8% over the next year
Tapestry is currently trading at $49.02, close to its 52-week high. The company has surged 10% this year after rising 26% in 2017. Wall Street expects the company’s price to rise another 8% over the next year to $52.78.
Investors looking to invest in TPR through ETFs can choose to invest in the WisdomTree MidCap Dividend ETF (DON). TPR has a weight of ~1.1% in DON.