Coach parent Tapestry falls after Jefferies downgrades to 'hold', cuts PT

Shares of Coach handbag maker Tapestry TPR.N dip ~1% to $131.99 premarket

Jefferies cuts rating to "hold" from "buy", lowers PT to $138 from $142

Brokerage notes concerns around potentially slowing brand heat and increased discounting in the U.S. market for younger consumers amid challenging labor market

Growth is heavily reliant on U.S. handbags, making it vulnerable if fashion trends cool or promotional activity rises - Jefferies

15 of 22 brokerages rate the stock "buy" or "higher", six "hold" and one "sell"; median PT is $130 - data compiled by LSEG

Shares up nearly 96% in 2025