Tapestry Gets Price Target Bumps From Analysts After Q2 Earnings

Tapestry Inc TPR reported better-than-expected Q2 earnings.

Tapestry reported a second-quarter FY23 sales decline of 5% year-on-year to $2.025 billion, versus the analyst consensus of $2.03 billion. Adjusted EPS of $1.33 beat the analyst consensus of $1.27.

Tapestry raised its FY23 EPS outlook from $3.60-$3.70 to $3.70-$3.75 versus the consensus of $3.65. The company expects FY23 sales of $6.6 billion (prior view $6.5 billion - $6.6 billion) versus the consensus of $6.61 billion.

Tapestry shares rose 3.5% to close at $44.71 on Thursday.

These analysts made changes to their price targets on Tapestry after the company released quarterly results.

  • Telsey Advisory Group raised the price target on Tapestry from $52 to $54. Telsey Advisory Group analyst Dana Telsey maintained an Outperform rating on the stock.
  • Baird boosted Tapestry price target from $45 to $52. Baird analyst Mark Altschwager maintained an Outperform rating on the stock.
  • Credit Suisse raised the price target on the stock from $45 to $55. Credit Suisse analyst Michael Binetti maintained the stock with an Outperform rating.

Check This Out: PayPal, Global Payments And 3 Stocks To Watch Heading Into Friday

Market News and Data brought to you by Benzinga APIs
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidancePrice TargetMarketsAnalyst RatingsTrading IdeasPT Changes
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!