Evercore ISI Group maintains Tapestry at Outperform, lowers price target to $145 from $160

What happened

Evercore ISI Group kept its Outperform rating on Tapestry but cut its price target to $145 from $160, a 9.4% decrease. That new target implies 20.1% upside from the Nov 2 close of $120.76.

Confirmed

Global impact / market context

A lower price target means Evercore expects less upside for Tapestry shares, even while it still rates the stock Outperform, which means it expects it to beat peers. That mix can shift how investors weigh the stock's expected return against other holdings.

Analyst inference

Four recent analyst notes put Tapestry price targets between $140 and $200, so Evercore's cut to $145 sits near the low end. That wide range signals disagreement about how much the shares are worth, which can make trading more sensitive to company updates.

Analyst inference

What to watch

1. Evercore ISI Group lowered its Tapestry price target to $145 from $160 while keeping an Outperform rating, and the new target is 9.4% lower than the prior one. Confirmed
2. Watch whether other analysts follow by cutting their own Tapestry price targets, since four recent notes already span $140 to $200 and a drift lower would narrow expected upside. Proposed
3. Watch Tapestry's next company update for signs that revenue or costs are shifting, because weaker profit per sale could explain why analysts reduce the price they are willing to pay. Analyst inference

Evidence

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