Jim Cramer Discusses Strong Movement In Tapestry's (TPR) Stock

We recently published 9 Stocks Jim Cramer Talked About. Tapestry, Inc. (NYSE:TPR) is one of the stocks that Jim Cramer talked about.

Luxury goods manufacturer Tapestry, Inc. (NYSE:TPR)’s shares are up by 88% over the past year and by 18.6% year-to-date. Wells Fargo raised the share price target to $165 from $142 and kept an Overweight rating in February. The bank outlined that Tapestry, Inc. (NYSE:TPR) Coach brand was performing well and had exceeded expectations in the firm’s latest quarter. In Tapestry, Inc. (NYSE:TPR)’s latest quarter, Coach experienced a 25% annual revenue jump. Cramer praised the brand following the earnings, as he remarked that the firm had injected fresh life into the brand in a way that he didn’t think was possible. Baird also discussed Tapestry, Inc. (NYSE:TPR)’s shares after the earnings, as it raised the share price target to $160 from $140 and kept an Outperform rating. In this appearance, Cramer commented that the recent strong share price performance was a breath of fresh air after his co-host mentioned Tapestry, Inc. (NYSE:TPR):

“All great companies, this felt like, not 2023, when we had a comeback from COVID. Not 2016 when we had a comeback from the China problem. It felt like pre-FANG, it felt like pre FANG was invented. In 2013. Because those were so exciting and those pulled away. No, the companies that are pulling away are all household names. I say welcome back to traditional investing which is so much fun. We’re not looking at annual revenue. . .annual revenue rate, we’re not doing that. We’re not doing the Rule of 40, I mean as much as I like what Palantir is doing, I mean let’s give the due to some of these companies that are fantastic that we remember. I’m talking about great American companies. . .”

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