Tapestry price target raised to $52 from $46 at Baird

Baird analyst Mark Altschwager raised the firm’s price target on Tapestry to $52 from $46 and keeps an Outperform rating on the shares. The firm said they delivered EPS upside on higher revenue and margins, led by outperformance at Coach and noted Kate/SW sales pressure continued, but they are encouraged by an improving margin trajectory.