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UPDATE: Buckingham Downgrades Coach On Probable Dividend Cut

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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

Sep 2017BarclaysInitiates Coverage OnEqual-Weight
Sep 2017BernsteinInitiates Coverage OnOutperform
Aug 2017Morgan StanleyMaintainsUnderweight

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


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