Guggenheim analyst Robert Drbul is assigning a Best Idea moniker to Buy-rated Tapestry (TPR), replacing Nike (NKE), the analyst’s previous Best Idea. The firm remains "comfortable" with its FY23 EPS forecast of $3.75, which is 2c above consensus, is increasing its FY24 EPS view to $4.20 and establishing an FY25 EPS estimate of $5.00 that it notes is 27c above consensus. The firm believes Tapestry shares are "just too cheap to ignore," anchored by "the resilient, highly profitable, and very well managed Coach brand," the analyst tells investors.
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Published first on TheFly
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