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Fly News Breaks for August 17, 2017
COH
Aug 17, 2017 | 09:07 EDT
Morgan Stanley analyst Kimberly Greenberger said Coach shares fell 15% on a weaker Kate Spade outlook and a gross margin miss for the Coach brand. Even following yesterday's downdraft, the analyst continues to expect the derating to continue and remains skeptical on a Coach and Kate Spade medium-term turnaround, especially given slowing category growth. Greenberger rates Coach an Underweight with a $35 price target.
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