The pandemic didn’t leave much room for designer handbags and heels, but many investors are betting that demand for these items will come back in a big way. That has helped Tapestry stock rally in recent months, and the stock is higher again Tuesday after an upgrade from Telsey Advisory Group.
Analyst Dana Telsey recently met with Tapestry’s (ticker: TPR) management team after its recent upbeat fiscal second-quarter report, and writes that she was encouraged by the discussions. She applauds the Coach, Kate Spade, and Stuart Weitzman owner’s execution throughout the Covid-19 crisis, and the opportunities she sees going forward, with digital sales and a younger customer base.
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