Market Overview

UPDATE: Buckingham Downgrades Coach On Probable Dividend Cut

Related COH
Wage Pressures And Holiday Comps In The Retail Sector
Benzinga's Bulls And Bears Of The Past Week: Apple, Caterpillar, Tesla And More

Buckingham Research analyst David Glick downgraded shares of Coach (NYSE: COH) from Neutral to Underperform and cut the price target from $32.00 to $28.00.

Glick noted that Coach will need to raise more debt and possibly cut the deal next year due to the company's cash levels. The analyst does not see the company being able to sustain current levels for its dividend.

Buckingham commented that Coach may need more than a $1 billion debt issuance to cover the current dividend.

Shares of Coach closed at $34.98 on Tuesday. The stock is currently down 1.11 percent at $34.59.

Latest Ratings for COH

Nov 2017SusquehannaInitiates Coverage OnPositive
Oct 2017BairdMaintainsOutperform
Oct 2017BuckinghamMaintainsBuy

View More Analyst Ratings for COH
View the Latest Analyst Ratings

Posted-In: Buckingham Research David GlickAnalyst Color Short Ideas Downgrades Price Target Analyst Ratings Trading Ideas


Related Articles (COH)

View Comments and Join the Discussion!