** Coach handbag maker Tapestry TPR.N raised annual forecasts following Thursday's upbeat Q2 results, aided by strong demand and higher-priced sales

** At least seven brokerages raise their PTs on the stock

MIXED BAG: COACH STRONG, KATE SPADE LAGS

** Wells Fargo ("overweight"; PT raised to $100 from $90) says Coach's growth is the biggest surprise this holiday thus far, notes bullish case on Coach moves from a narrative to an actuality

** BofA ("buy"; PT raised to $95 from $75) says the company's Kate Spade brand turnaround will take time and incremental marketing spend will drive selling, general and administrative costs above sales growth

** UBS ("neutral"; PT raised to $80 from $70) sees more upside risk to the stock, on uncertainty around macro environment in the coming months

** Guggenheim ("buy"; PT raised to $90 from $70) believes the global growth can be sustained, with ongoing strength in North America, traction in Europe and opportunities in China

** Jefferies ("buy"; PT raised to $95 from $83) believes investments afforded by the company's margins could turn Kate Spade around, sees guidance to prove conservative, given momentum

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))