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Deutsche Bank Reiterates Hold on Coach Ahead of Next Week's Earnings Report

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In a report published Friday, Deutsche Bank analyst Dave Weiner reiterated a Hold rating and $60.00 price target on Coach (NYSE: COH).

In the report, Deutsche Bank noted, “Ahead of Tuesday's AM release, we maintain our $0.78 EPS est., driven by (1) -2% SSS in NA & +DD in China, (2) GM of 71.6% (-120bp y/y), (3) SG&A of 43.7% (-50bp y/y), and (4) OM of 27.9%, -70bp y/y. We're modestly above $0.76 FactSet consensus, which assumes -3% NA SSS, 71.9% GM, and 27.3% OM. Though we look to be opportunistic on COH shares, positive catalysts may come more over the mid-/long-term, with possible risks near-term. HOLD balances a need for comfort around product initiatives & mgmt. stability, with div./buyback support, above-avg. margins, and the reality that many of Coach's issues are already known by investors. $60 PT = ~16x our F14E EPS.”

Coach closed on Thursday at $54.14.

Latest Ratings for COH

DateFirmActionFromTo
Nov 2017Initiates Coverage OnPositive
Oct 2017MaintainsOutperform
Oct 2017MaintainsBuy

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Posted-In: Dave Weiner Deutsche BankAnalyst Color Reiteration Analyst Ratings

 

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