BUZZ-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
(Reporting by Krisha Bhatt in Bengaluru)
((Krisha.Bhatt@thomsonreuters.com;))
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