Jefferies lifts Tapestry to Buy on better sales growth, gross margin outlook [Yahoo! Finance]
Target Corporation (TGT)
Last target corporation earnings: 3/3 06:30 am
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Source: Yahoo! Finance
Buy, based on the company's potential for sales growth, margin expansion, and a significant share buyback plan. The investment firm also hiked its price target on the stock from $50 to $80. The company's shares rose more than 2% after Thursday market open. Jefferies forecasts Tapestry's earnings per share (EPS) to grow at a low double-digit percentage compound annual growth rate (CAGR) and suggests that the stock could reach $90 or higher. The upgrade follows the completion of the Capri Holdings (NYSE:CPRI) deal, which has shifted market focus to Tapestry's improving sales and expanding margins. Tapestry's primary brand, Coach , which accounts for approximately 75% of sales and over 90% of profit, is expected to drive results with its sustained brand appeal and potential recovery in China. Jefferies projects a 2-3% growth in Tapestry's overall sales, supported by Coach's product momentum and average unit retail (AUR) gains. In addition to sales growth, Tapestry's gross margi
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TGT
Earnings
- 11/20/24 - Miss
TGT
Sec Filings
- 11/27/24 - Form 10-Q
- 11/20/24 - Form 8-K
- 11/13/24 - Form SC
- TGT's page on the SEC website