Market Overview

UPDATE: ISI Group Downgrades Coach to Neutral on Negative Comps

Share:
Related COH
Barron's Recap: What's Next?
Luxury Handbag Pair Trade: Jefferies Likes Coach, Downgrades Vera Bradley
Making Sense Of Things (Seeking Alpha)

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.

Latest Ratings for COH

DateFirmActionFromTo
Aug 2015JefferiesUpgradesHoldBuy
Aug 2015UBSUpgradesNeutralBuy
Aug 2015WedbushMaintainsNeutral

View More Analyst Ratings for COH
View the Latest Analyst Ratings

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

 

Related Articles (COH)

View Comments and Join the Discussion!

Get Benzinga's Newsletters