Why Tapestry (TPR) Stock Is Up Today

What Happened?

Shares of luxury fashion conglomerate Tapestry (NYSE:TPR) jumped 3.4% in the afternoon session after JPMorgan Chase & Co. raised its price target on the company. The investment bank lifted its price objective to $142.00 from $139.00, implying a potential upside of over 33% from the stock's current price, while maintaining an "overweight" rating. This positive view from JPMorgan aligns with broader market sentiment.

After the initial pop the shares cooled down to $110.31, up 3.6% from previous close.

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What Is The Market Telling Us

Tapestry’s shares are somewhat volatile and have had 12 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The biggest move we wrote about over the last year was 7 months ago when the stock gained 18.3% on the news that the company delivered a "beat-and-raise" quarter, its first since the $8.5 billion acquisition of Capri Holdings was called off due to antitrust concerns. 

Tapestry blew past analysts' constant currency revenue expectations. Its full-year revenue guidance was lifted, and full-year EPS guidance came in much higher than Wall Street's estimates. You may have noticed that EPS missed, but this was largely due to a one-time debt extinguishment charge rather than something fundamental. Overall, this quarter was very good.

Tapestry is up 68.1% since the beginning of the year, and at $110.31 per share, it is trading close to its 52-week high of $113.53 from August 2025. Investors who bought $1,000 worth of Tapestry’s shares 5 years ago would now be looking at an investment worth $6,550.

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