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Fly News Breaks for October 5, 2017
COH
Oct 5, 2017 | 05:29 EDT
Piper Jaffray analyst Erinn Murphy downgraded Coach to Neutral and cut her price target for the shares to $43 from $48. The stock is likely to enter a "period of digestion" as the company integrates Kate Spade and as investors "grapple with" its new reporting structure, Murphy tells investors in a research note. The analyst, who remains positive on the Coach brand, prefers to sit on the sidelines pending visibility into the Kate Spade integration or a path towards accelerating sales outperformance.
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