Coach handbag parent tumbled 12% after earnings. JPMorgan tells clients to buy the dip

Tapestry is trading at an attractive level after its fiscal third-quarter earnings report added to investor concerns around demand for affordable luxury fashion, making now a good time to buy shares of the Coach owner, according to JPMorgan. The investment bank has an overweight rating on Tapestry, which also owns Kate Spade New York, and raised its price target on the stock to $200 from $190, implying more than 50% upside from Thursday's close. …