Tapestry Inc "The AI Play No One is Talking About" (Buy) Sole

研报英文原文证据摘录

Tapestry Inc "The AI Play No One is Talking About" (Buy) Sole

Global Research

23 June 2026ab

Tapestry Inc Equities

AmericasThe AI Play No One is Talking About

Retailers, Apparel

12-month rating Buy *

We see TPR delivering EPS upside surprises which drive its P/E ratio higher:

TPR has the brand strength, product engine, marketing budget, and balance sheet to 12m price target US$230.00

power big growth. Yet, TPR also has the best AI capabilities in Softlines, in our view. We Prior : US$187.00

expect these capabilities will fuel insights underpinning better business decisions across

Price (22 Jun 2026) US$149.20

TPR's entire organization, unlocking even more growth. We forecast TPR generating

~8.5% and ~19.5% 5-yr. sales and EPS CAGRs, respectively. Our $9.60 FY28 EPS RIC: TPR.N BBG: TPR US

estimate is 11% above consensus. The market, based on our conversations, is focused

Trading data and key metrics

on the fashion cycle. We think it's missing the bigger picture around AI. Once the market

52-wk range US$160.49-85.42

realizes TPR has durable LT growth potential, we think the stock's P/E will rise to 24x

from 18x today. Our PT is 54% above the current stock price. Market cap. US$31.0b

Shares o/s 208m (COM)

TPR's AI platform "Mira" is highly differentiated… Free float 100%

TPR recently announced it was awarded a US patent for Mira, its proprietary AI platform. Avg. daily volume ('000) 707

Used alongside Tapestry’s patented Global Data Fabric, Mira connects data from across Avg. daily value (m) US$100.3

the company to enable rapid, informed decision-making (link). Importantly, TPR built Common s/h equity (06/26E) US$0.72b

Mira specifically for its retail/fashion business and aligned it to the company's objectives. P/BV (06/26E) 40.8x

Net debt to EBITDA (06/26E) 0.7x