Analysts are Upgrading These 5 Stocks

In this article, we discuss the 5 stocks recently upgraded by analysts. If you want to see more stocks on the list, go directly to Analysts are Upgrading These 10 Stocks.

05. Tapestry, Inc. (NYSE:TPR)

Number of Hedge Fund Holders: 38

Aneesha Sherman, an analyst at Bernstein, on May 15, upgraded Tapestry, Inc. (NYSE:TPR) from Market Perform to Outperform and raised the price target from $50 to $55. Previously, the firm had downgraded Tapestry, Inc. (NYSE:TPR) to a Neutral rating in January 2023 due to anticipated short-term weakness in North America. However, two quarters later, this weakness has materialized as expected and is already factored into the company’s guidance and consensus. Additionally, Bernstein notes that Tapestry, Inc. (NYSE:TPR) has regained control over its inventory, and there is a strong demand for Coach products in China. The firm maintains a positive outlook on Tapestry, Inc. (NYSE:TPR) long-term investment potential and finds the stock’s current valuation attractive.