** Shares of Coach handbag maker Tapestry TPR.N fall 2.2% to $107.97
** BofA Global Research downgrades stock to "neutral" from "buy"
** Says Coach brand has several more quarters of outsized growth ahead, but the 66% YTD surge in the stock price, compared with a 9% rise in the S&P 500 .SPX index, leaves the shares close to fair value
** BofA, however, raises price objective to $115 from $95 to reflect continued confidence in the momentum at Coach
** Expects a strong Q4, says Coach's Summer Sale started 23 days later than last year, which likely caused a non-comparable late-quarter sales uptick
** For FY 26, expects TPR to guide to mid single digit sales growth and flat margins
** 14 of 21 brokerages rate the stock "buy" or higher, 7 "hold"; their median PT is $100 - data compiled by LSEG
** Including session's move, stock up 65.1% YTD
(Reporting by Sukriti Gupta in Bengaluru)
((Sukriti.Gupta@thomsonreuters.com;))
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。