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Fly News Breaks for June 26, 2017
COH
Jun 26, 2017 | 07:47 EDT
Buckingham analyst Scott Krasik upgraded Coach to Buy and increased its price target to $58 from $45 saying he sees further upside based on expectations core margins can expand to 22%-24% from 19% by FY21, Kate Spade accretion will exceed expectations, and expects further additive acquisitions over the next few years. Krasik expects Coach to be rewarded with a higher multiple as it establishes itself as the only US based multi-brand luxury holding company.
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