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COH

Coach

$36.54

-0.02 (-0.05%)

, KORS

Michael Kors

$46.44

-0.35 (-0.75%)

08:26
10/04/16
10/04
08:26
10/04/16
08:26

Coach still has upside as share retaken from Michael Kors, says Wells Fargo

Wells Fargo analyst Ike Boruchow believes that after Coach (COH) posted its first positive North American comp last quarter in over three years that it appears many investors have recently "moved on," viewing the turnaround story as played out. However, he thinks here is a long way to go should the brand continue to execute and finds it interesting that while investors were keenly aware of how much market share Michael Kors (KORS) was stealing over the past seven years, now it "doesn't seem like anyone is paying attention" as Coach finally takes back share at Kors' expense. Boruchow reiterate an Outperform rating and $46-$48 price target range on Coach share.

COH

Coach

$36.54

-0.02 (-0.05%)

KORS

Michael Kors

$46.44

-0.35 (-0.75%)

  • 07

    Nov

COH Coach
$36.54

-0.02 (-0.05%)

09/28/16
LYON
09/28/16
INITIATION
LYON
Buy
Coach initiated with a Buy at CLSA
CLSA analyst Rick Patel initiated Coach with a Buy rating and a $45 price target.
09/29/16
09/29/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Owens Corning (OC) initiated with a Market Perform at Wells Fargo. 2. Kate Spade (KATE) was initiated with an Outperform at CLSA, while the firm initiated Coach (COH) with a Buy and Michael Kors (KORS) with a Sell. 3. RetailMeNot (SALE) and Groupon (GRPN) initiated with a Neutral at Boenning & Scattergood. 4. Carnival (CCL) initiated with a Hold at Deutsche Bank. 5. D.R. Horton (DHI) initiated with an Outperform at Wells Fargo. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/30/16
GUGG
09/30/16
INITIATION
Target $50
GUGG
Buy
Coach initiated with a Buy at Guggenheim
Guggenheim analyst Robert Drbul initiated Coach with a Buy and a $50 price target. The analyst is encouraged by continued signs of progress in the brand's transformation, highlighted by positive North American comps in Q4 despite tourist, macro, and promo headwinds for the category and business.
09/30/16
09/30/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Amazon.com (AMZN) initiated with a Buy at Guggenheim. 2. Wal-Mart (WMT) initiated with an Overweight at KeyBanc and a Buy at Guggenheim. 3. Harley-Davidson (HOG) initiated with a Hold at Jefferies. 4. Coach (COH) was initiated with a Buy at Guggenheim while the firm initiated Michael Kors (KORS) with a Neutral. 5. First Solar (FSLR) initiated with a Buy at Williams Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
KORS Michael Kors
$46.44

-0.35 (-0.75%)

09/28/16
LYON
09/28/16
INITIATION
LYON
Sell
Michael Kors initiated with a Sell at CLSA
CLSA analyst Rick Patel initiated Michael Kors with a Sell rating and a $45 price target.
09/30/16
GUGG
09/30/16
INITIATION
GUGG
Neutral
Michael Kors initiated with a Neutral at Guggenheim

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