Tapestry price target raised to $45 from $38 at UBS

UBS analyst Jay Sole raised the firm’s price target on Tapestry to $45 from $38 and keeps a Neutral rating on the shares. Tapestry’s Q2 report was better than expectations, but Capri’s Q3 was below, though the firm still sees more downside than upside risk to the Street’s EPS outlook due to soft macro trends, the analyst tells investors in a research note.