COH: Lowered Price Target Sends Coach Stock Down

The handbag maker's sales visibility is considered low

   

COH: Lowered Price Target Sends Coach Stock Down

Coach (COH) shares took a hit in Wednesday morning trading after an investment firm cut its rating for Coach stock.

coach 630 purse sign 300x200 COH: Lowered Price Target Sends Coach Stock Down
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COH fell more than 2% after Sterne Agee downgraded Coach stock from a “Buy” rating to “Neutral.” Sterne Agee also trimmed its target price for COH shares from $51 to $41, TheStreet noted.

Analysts at Sterne Agee cited the retailer’s low sales visibility and the unlikelihood of a near-term turnaround for the COH stock downgrade.

On Tuesday, COH stock closed at $40.02 per share.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/06/coh-lowered-price-target-sends-coach-stock/.

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