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COH: Lowered Price Target Sends Coach Stock Down

The handbag maker's sales visibility is considered low


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

coach 630 purse sign
Source: Flickr

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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