Tapestry price target raised to $52 from $42 at Argus

Argus raised the firm’s price target on Tapestry to $52 from $42 and keeps a Buy rating on the shares after its Q2 earnings beat earlier this month. The company is benefiting from its direct-to-consumer channels, which represent about 90% of sales, as these channels generate stronger margins than wholesale channels and allow Tapestry to use first-party data and analytics to better understand customer preferences, the analyst tells investors in a research note.