Citi raised the firm’s price target on Tapestry (TPR) to $55 from $49 and keeps a Buy rating on the shares. The blocked acquisition of Capri Holdings (CPRI) simplifies the Tapestry story, “making it much cleaner,” the analyst tells investors in a research note. The firm says that although Tapestry intends to appeal the decision, the company’s management “may be breathing a secret sigh of relief.” The blocked deal allows the company’s strong free cash flow generating power to come back into focus
Yahoo! Finance: CPRI News
