BUZZ-Street View: Tapestry reports solid sales boost from Coach
Coach handbag maker Tapestry TPR.N raised annual forecasts following Thursday's upbeat Q2 results, aided by strong demand and higher-priced sales
At least seven brokerages raise their PTs on the stock
MIXED BAG: COACH STRONG, KATE SPADE LAGS
Wells Fargo ("overweight"; PT raised to $100 from $90) says Coach's growth is the biggest surprise this holiday thus far, notes bullish case on Coach moves from a narrative to an actuality
BofA ("buy"; PT raised to $95 from $75) says the company's Kate Spade brand turnaround will take time and incremental marketing spend will drive selling, general and administrative costs above sales growth
UBS ("neutral"; PT raised to $80 from $70) sees more upside risk to the stock, on uncertainty around macro environment in the coming months
Guggenheim ("buy"; PT raised to $90 from $70) believes the global growth can be sustained, with ongoing strength in North America, traction in Europe and opportunities in China
Jefferies ("buy"; PT raised to $95 from $83) believes investments afforded by the company's margins could turn Kate Spade around, sees guidance to prove conservative, given momentum
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