Are There Better Alternatives To Coach Stock?

Over the past couple of weeks, three major Wall Street research firms initiated coverage on Coach, Inc. COH.

Interestingly enough, all three -- Oppenheimer ($36.00), Cowen & Company ($38.00) and Stephens & Co. ($37.00)  -- issued price targets below or near the stock's current trading range around $36.30 per share. 

Is There An Alternative?

There may be two.

Famed jewelry retailer Tiffany & Co. TIF is quite liked by Wall Street analysts. On Tuesday, Cowen & Company initiated coverage on the stock with an Outperform rating and a $123.00 price target, which implies an 18.5 percent upside.

Bank of America is also fond of Tiffany with a $120.00 price target.

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Credit Suisse is more conservative, but still holds a target 5 percent above current prices. Worth noting, analysts say it's concerned “that global macro challenges in APAC, Japan, and Europe near-term will hold back earnings power until FY15.”

Signet Jewelers Limited SIG is also worth watching. In November, Barclays reiterated an Overweight rating in late-November and raised its price target from $130.00 to $147.00. Deutsche Bank maintains a Buy rating with a $140.00 price target -- 8 percent above current prices.