Raymond James analyst Rick Patel initiated coverage of Tapestry with an Outperform rating and $44 price target. Expectations are low and already reflect macro headwinds affecting most global brands, Patel tells investors in a research note. The firm’s estimates embed a low single digit percentage revenue decline in FY23 and below-algorithm growth in FY24.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on TPR: