We recently published 12 Stocks on Jim Cramer’s Radar. Tapestry, Inc. (NYSE:TPR) is one of the stocks on Jim Cramer’s radar.
Tapestry, Inc. (NYSE:TPR) is a luxury goods company. Its shares are up by 89% over the past year and by 17.8% year-to-date. UBS discussed the firm in late January as it raised the share price target to $125 from $123 and kept a Neutral rating on the shares. The bank outlined that Tapestry, Inc. (NYSE:TPR)’s upcoming second-quarter results would see the firm beat analyst forecasts for earnings per share. It added that the firm’s Coach brand appeared to be performing well in its recent quarters. Following the earnings release, Wells Fargo raised Tapestry, Inc. (NYSE:TPR)’s share price target to $165 from $142 and kept an Overweight rating on the shares. The bank pointed out that the apparel firm’s Coach brand had exceeded expectations through strong growth. Tapestry, Inc. (NYSE:TPR)’s earnings saw Coach’s revenue grow by 25% while the firm also raised its full-year earnings forecast. Cramer praised Tapestry, Inc. (NYSE:TPR)’s CEO and Coach:
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“They came back and they’ve done remarkable things, and the CEO’s great. I can’t applaud, they’ve reinvigorated Coach in a way that I never thought was possible. That’s a very remarkable company. 28 billion dollars. . .”
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Disclosure: None. This article is originally published at Insider Monkey.
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