Market Overview

UPDATE: ISI Group Downgrades Coach to Neutral on Negative Comps

Related COH
Coach to Unveil Next-Gen Retail Concept - Analyst Blog
For Retail Gains, Go East, Young Investor!
Kate Spade Seen Winning in Luxury Fashion War (Fox Business)

ISI Group downgraded Coach (NYSE: COH) from Buy to Neutral and lowers the price target from $75.00 to $50.00.

ISI Group noted, "On the heels of its first negative North America comp in over a decade (ex-recession), the company has announced a transformational decision to evolve Coach into more of a lifestyle brand. While this is absolutely the right thing to do and could pay huge dividends in the long-run, there are a few caveats accompanying this new strategy that elevate the risk profile in the near- and medium-term and will keep us on the sidelines until we see signs of the evolution taking hold."

Coach closed at $50.75 on Wednesday.

Posted-In: ISI GroupAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Most Popular

Related Articles (COH)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free