Tapestry rises after J.P.Morgan lifts PT
** Shares of Coach handbag maker Tapestry TPR.N up 3% at $37.92
** J.P.Morgan raises PT to $46 from $41, implying a near 25% upside to stock's last closing price of $36.81
** Also adds TPR, which is buying rival and Jimmy Choo-parent Capri CPRI.N, to its analyst focus list as a "value idea"
** Says TPR has been able to better leverage data insights, driving growth in its direct-to-consumer channel
** TPR remains "well positioned" in the "resilient" premium handbags, small leather goods and footwear patch, which has seen mid-single digit category growth over the past 23 years - JPM
** TD Cowen names TPR among its top picks on brand and product execution in 2024
** "We like management's execution ability having transformed the Coach brand significantly since 2013" - TD Cowen
** Tapestry's stock fell 3.3% in 2023
Reporting by Juveria Tabassum in Bengaluru
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