Tapestry rises after J.P.Morgan lifts PT

** Shares of Coach handbag maker Tapestry TPR 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, 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