Raymond James has adjusted its price target for Tapestry (TPR, Financial), reducing it from $88 to $74, while maintaining an Outperform rating on the stock. The investment firm highlights concerns over the potential impacts of tariffs on upcoming earnings calls and stock trajectories. However, it also notes the uncertainty surrounding governmental actions, which may lead companies to refrain from offering detailed financial impact assessments.
The firm suggests that if new tariffs come into effect around Liberation Day, Tapestry could experience significant challenges to its gross margins and earnings per share (EPS). Additionally, there is concern that accelerated inflation could curtail consumer spending, further affecting demand for Tapestry's products.
