Credit Suisse Appears To Approve Tapestry's Growth Targets

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  • Credit Suisse analysts reiterated an Outperform rating on the shares of Tapestry Inc TPR with a price target of $49.00.
  • The analysts said the company’s recently unveiled growth strategy presented a solid plan to drive low- to mid-teens% EPS growth and a high-teens total stock return profile over the next three years.
  • Tapestry’s goals represent a very embraceable balance of offense with clearly identified medium/long-term growth opportunities and defense with plans to consistently deploy strong cash flows to shareholders over the next three years.
  • The analysts think Tapestry struck the right tone with confident revenue targets, plenty of cost structure cushion to deliver upside to EBIT targets, and conservative assumptions on how much returning $3 billion to shareholders can add to total EPS.
  • The company’s margins are where the analysts see more cushion and also listed out several points of flex in the forensics of TPR’s margin build.
  • Price Action: TPR shares are trading higher by 1.82% at $36.17 on the last check Monday.
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