TD Cowen Reaffirms Buy Rating on Tapestry (TPR) After CEO Meeting

Tapestry Inc. (NYSE:TPR) ranks among the best performing retail stocks in 2025. TD Cowen reaffirmed its Buy rating and $120 price target for Tapestry Inc. (NYSE:TPR) on November 19 after visiting the company’s archive and workshop facilities and meeting with the CEO and CFO. According to TD Cowen, the company has evolved from 35% to 65% evergreen products, which enables more effective inventory management while promoting broader concepts.

The rating came after Tapestry’s record first-quarter fiscal 2026 results, which outperformed analyst forecasts. Tapestry Inc. (NYSE:TPR) generated $1.7 billion in revenue and earned $1.38 per share, indicating 16% sales increase and 35% EPS growth year-over-year. Coach, the company’s flagship brand, drove its overall rise with a 21% revenue increase, while Kate Spade continued to suffer with a 9% drop.

TD Cowen acknowledged that Kate Spade is still a “work-in-progress” that requires patience, though it voiced confidence in the “One Coach” strategy provided it is implemented well across collection and outlet product lines.

Tapestry Inc. (NYSE:TPR) provides luxury accessories and branded lifestyle products in North America, Greater China, the rest of Asia, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman.

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Disclosure: None. This article is originally published at Insider Monkey.