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TD Cowen Reaffirms Buy Rating on Tapestry (TPR) After CEO Meeting
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TD Cowen reaffirmed its Buy rating and $120 price target for Tapestry Inc. (TPR) after a meeting with the CEO and CFO and a visit to the company's facilities. This reaffirmation followed Tapestry's strong first-quarter fiscal 2026 results, which saw a 16% sales increase and 35% EPS growth, largely driven by the Coach brand. While acknowledging Kate Spade as a "work-in-progress," TD Cowen expressed confidence in the company's "One Coach" strategy and inventory management improvements.
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