Tapestry price target raised to $52 from $45 at Baird

Baird analyst Mark Altschwager raised the firm’s price target on Tapestry to $52 from $45 and keeps an Outperform rating on the shares. The analyst said its current valuation leaves less room for error but with steady execution, identifiable sales/margin tailwind, and strong FCF with shareholder-friendly capital allocation, we like risk/reward.