Added to YB: 2023-12-11
Pitch date: 2023-12-07
TPR [bullish]
Tapestry, Inc.
+382.6%
current return
Author Info
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Company Info
Tapestry, Inc. provides accessories and lifestyle brand products in North America, Greater China, rest of Asia, and internationally.
Market Cap
$31.4B
Pitch Price
$31.56
Price Target
57.00 (-63%)
Dividend
1.03%
EV/EBITDA
14.35
P/E
63.75
EV/Sales
4.56
Sector
Textiles, Apparel and Luxury Goods
Category
special_situation
Show full summary:
M&A Arb Update: Tapestry Acquiring Capri
TPR to buy CPRI for $8.5B; mkt skeptical at 62% odds but concerns seem overblown: deal history, SAMR approval rates, strong fcf to delever. Strategically sound to boost intl presence. Options mkt doesn't see big moves; bearish rxn to FTC overdone. Cedar Grove sees it closing.
Read full article (6 min)