Tapestry's Outlook Offers 'An Encouraging Sign,' Says This Analyst


Telsey Advisory Group analyst Dana Telsey reiterated an Outperform rating on Tapestry Inc. (TPR) with a price target of $46.00.

Telsey said Tapestry drove strength across channels leading to solid gains in North America, Europe, and Japan, nearly offset by continued softness in Greater China due to COVID-related pressure. She cited that the company’s management anticipates a gradual recovery in China in the coming year and, despite continued macro headwinds, its FY23 guidance evokes optimism and is in line with expectations.

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