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Fly News Breaks for August 16, 2017
COH
Aug 16, 2017 | 07:29 EDT
Canaccord analyst Camilo Lyon said his growth thesis for Coach remains intact despite its soft guidance. The analyst noted Coach beat Q4 earnings expectations despite high expectations but it was driven by a lower tax rate while gross margins fell. He continues to believe Coach is well positioned to deliver upside to guidance over the coming year. Lyon reiterated his Buy rating and lowered his price target to $56 from $59 on Coach shares.
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