Morgan Stanley Does Not Expect 4Q To Serve As Catalyst For Coach

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In a report published Monday, Morgan Stanley analyst Kimberly C. Greenberger reiterated an Underweight rating and $29.00 price target on

27% profit every 20 days?

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Coach

(NYSE: COH).In the report, Morgan Stanley noted, “We do not expect 4Q to serve as a catalyst, as investors focus on FY15/16 investment years. While we think COH is taking steps to stabilize brand damage, we estimate heavy turnaround costs and HQ investments burn FY15 cash. Reiterate U/W.”Coach closed on Friday at $34.25.