Noted JPMorgan analyst sees shares of Coach retailer jumping more than 30%

A potential multi-year growth outlook for luxury brand Coach could be a key driver for Tapestry stock, according to JPMorgan. The firm reiterated an overweight rating on the fashion holding company stock, alongside a $104 per share price target. JPMorgan's forecast calls for about 32% upside from Friday's $78.91 close. Analyst Matthew Boss specifically pointed to an attractive growth profile for Tapestry's Coach brand as a potential growth catalyst for the stock. Boss also said Tapestry's past efforts to reach younger customers within its Coach brand has "reached critical scale" which is "more than offsetting prior declines in the customer file from more price-sensitive customers," which will help drive revenue. JPMorgan's Boss is one of the most followed analysts on Wall Street covering the retail sector. "To that point, management noted the newly acquired customer cohorts are from younger generations (Gen-Z/Millennials = greater lifetime value opportunity), transacting at higher [average unit retails], returning to the brand with higher purchase frequency rates & higher retention rates (vs. prior year and vs. prior customer cohorts), and are now beginning to influence older generations, which is also driving lapsed customer re-activation," Boss added. Shares have advanced nearly 21% in 2025.

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Yahoo

an hour ago

• Yahoo

Shares dip in Asia, oil up as world awaits Iran response

By Wayne Cole SYDNEY (Reuters) -Wall Street share futures slipped on Monday and oil prices briefly hit five-month highs as investors anxiously waited to see if Iran would retaliate to U.S. attacks on its nuclear sites, with resulting risks to global activity and inflation. Early moves were contained, with the dollar getting only a minor safe-haven bid and no sign of panic selling across markets. Oil prices were up around 2%, but already well off their initial peaks. Optimists were hoping Iran might back down now its nuclear ambitions had been curtailed, or even that regime change might bring a less hostile government to power there. Analysts at JPMorgan, however, cautioned that past episodes of regime change in the region typically resulted in oil prices spiking by as much as 76% and averaging a 30% rise over time. Key will be access through the Strait of Hormuz, which is only about 33 km (21 miles) wide at its narrowest point and sees around 20% of the world's daily oil consumption. "With the U.S. becoming involved, the risk of Iran retaliating by disrupting the flows of oil from the Middle East has risen significantly," warned analysts at ANZ. "Prices in the $90–95/bbl range would be the likely outcome." For now, Brent was up a relatively restrained 1.9% at $78.46 a barrel, while U.S. crude rose 2% to $75.30. Elsewhere in commodity markets, gold edged up 0.2% to $3,375 an ounce. [GOL/] Share markets were proving resilient so far, with S&P 500 futures off 0.3% and Nasdaq futures down 0.5%, having both started with losses near 1%. Nikkei futures were just a fraction lower at 38,380, pointing to a small opening fall for the cash index. The dollar edged up 0.2% on the Japanese yen to 146.36 yen, while the euro dipped 0.3% to $1.1485. The dollar index firmed 0.25% to 99.008. There was also no sign of a rush to the traditional safety of Treasuries, with futures up only 1 tick. Futures for Federal Reserve interest rates were a tick lower, likely reflecting concerns a sustained rise in oil prices would add to inflationary pressures at a time when tariffs were just being felt in U.S. prices. Markets are still pricing a slim chance the Fed will cut at its next meeting on July 30, even after Fed Governor Christopher Waller broke ranks and argued for a July easing. Most other Fed members, including Chair Jerome Powell, have been more cautious on policy leading markets to wager a cut is far more likely in September. At least 15 Fed officials are speaking this week, and Powell faces two days of questions from lawmakers, which is certain to cover the potential impact of President Donald Trump's tariffs and the attack on Iran. The Middle East will be high on the agenda at a NATO leaders meeting at the Hague this week, where most members have agreed to commit to a sharp rise in defence spending. Among the economic data due are figures on U.S. core inflation and weekly jobless claims, along with early readings on June factory activity from across the globe. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Yahoo

2 hours ago

• Yahoo

Oil prices surge after US strikes on Iran with Strait of Hormuz status in focus

Oil futures surged as much as 5% on Sunday night after US strikes on Iran's three main nuclear sites intensified fears of a potential supply shock, amid growing concerns that Tehran could retaliate by closing a key maritime chokepoint. Brent crude (BZ=F), the international benchmark, gained as much as 5.7%, hovering above $80 per barrel. West Texas Intermediate (CL=F) futures also jumped more than 4% to hover around $77 per barrel. Oil prices had already posted weekly gains on Friday following the outbreak of conflict between Israel and Iran just over a week ago. On Sunday, traders weighed possible retaliation moves from Iran, a major oil producer and exporter, following the US's direct involvement. According to state media, Iran's parliament voted to close the Strait of Hormuz. The final decision on whether to shut the vital waterway — which handles roughly 20% of global oil flows — rests with Iran's Supreme National Security Council and Supreme Leader Ayatollah Ali Khamenei. What Wall Street once viewed as a low-probability event is now being treated as a significantly heightened risk. "Should oil exports through the Strait of Hormuz be affected, we could easily see $100 oil," said Andy Lipow, president of Lipow Oil Associates. Following the outbreak of the Israel-Iran war, JPMorgan analysts forecast that under a "severe outcome," a closure of the Strait of Hormuz could push oil prices to $120–$130 per barrel. If crude climbs into that range, analysts predict gasoline and diesel prices could rise by as much as $1.25 per gallon. 'Consumers would be looking at a national average gasoline price of around $4.50 per gallon—closer to $6.00 if you're in California,' Lipow said. Other possible retaliatory moves from Iran could include supporting Yemen's Houthi rebels in renewed attacks on commercial shipping. If the conflict escalates and the US or Israel targets Iran's oil export infrastructure, analysts warn that Tehran may retaliate by striking export facilities in neighboring countries. 'In other words, 'If we can't export our oil, you can't have yours,'' Lipow said. The key issue isn't just the potential for disruption, but how long it lasts, Rebecca Babin, senior energy trader at CIBC Private Wealth, told Yahoo Finance on Sunday. 'If infrastructure is hit but can be quickly restored, crude may struggle to hold gains,' she said. 'But if Iran's response causes lasting damage or introduces long-term supply risk, we're likely to see a stronger and more sustained move higher.' Last week, JPMorgan analysts noted that since 1967 — aside from the Yom Kippur War in 1973 — none of the 11 major military conflicts involving Israel have had a lasting impact on oil prices. In contrast, events directly involving major regional oil producers — such as the first Gulf War in 1990, the Iraq War in 2003, and the imposition of sanctions on Iran in 2018 — have all led to meaningful and sustained moves in oil markets. 'During these episodes, we estimate that oil traded at a $7–$14 per barrel premium to its fair value for an extended period,' wrote JPMorgan's Natasha Kaneva and her team. They added that the most significant and lasting price impacts historically come from 'regime changes' in oil-producing countries — whether that be through leadership transitions, coups, revolutions, or major political shifts. 'While demand conditions and OPEC's spare capacity shape the broader market response, these events typically drive substantial oil price spikes, averaging a 76% increase from onset to peak,' Kaneva wrote. The Organization of the Petroleum Exporting Countries and its allies (OPEC+) had raised output in the months leading up to Israel's strike on Iran on June 13. Ines Ferre is a Senior Business Reporter for Yahoo Finance. Follow her on X at @ines_ferre. Click here for in-depth analysis of the latest stock market news and events moving stock prices

CNBC

3 hours ago

• CNBC

Bitcoin sinks below $99,000 as U.S. strikes on Iran trigger crypto market sell-off

Bitcoin fell to its lowest level since May over the weekend, as rising tensions in the Middle East and renewed inflation fears triggered a sharp selloff across digital assets. Bitcoin dropped below the $99,000 mark on Sunday — its lowest point in more than a month — as the crypto market became the first to react to escalating geopolitical risk. Bitcoin is trading around $99,380, down more than 2% over the past 24 hours, while ether has dropped 5% to below $2,200. Solana, XRP, and dogecoin also posted sharp losses, dragging the entire crypto complex deep into the red. The selloff appears to be a combination of geopolitical shock and macroeconomic concern. Iran has reportedly threatened to block the Strait of Hormuz — a vital shipping lane that handles about 20% of global oil supply. JPMorgan warns that a full closure could drive oil prices as high as $130 per barrel. One prominent macro research firm notes that such a spike could send U.S. inflation back toward 5% — a level not seen since March 2023, when the Fed was still actively raising rates. That outlook has traders reassessing the path of interest rates — and rotating out of speculative assets like crypto. While bitcoin is often pitched as an inflation hedge, it's currently behaving more like a high-beta tech stock. According to crypto data provider Kaiko, bitcoin's correlation with the tech-heavy Nasdaq has climbed sharply in recent weeks, after hitting a multi-month low earlier this year — a period that coincided with surging inflows into spot bitcoin ETFs. Institutional positioning also appears to have shifted. More than $1.04 billion flowed into spot bitcoin ETFs from Monday through Wednesday last week, according to data from CoinGlass. But those inflows collapsed heading into the weekend, with zero net movement Thursday and just $6.4 million on Friday — coinciding with President Donald Trump's early G7 departure and the announcement of a two-week review of U.S. options on Iran. The technical breakdown added fuel to the selloff. CoinGlass research shows bitcoin's drop below $99,000 triggered forced selling across offshore derivatives platforms like Binance and Bybit. At its peak on Sunday, more than $1 billion in crypto positions were liquidated during a 24-hour span — with over 95% coming from long bets, underscoring just how overexposed the market was heading into the weekend.