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Fly News Breaks for February 17, 2017
COH, KATE
Feb 17, 2017 | 08:23 EDT
KeyBanc says that Coach (COH) "could make a compelling buyer" of Kate Spade (KATE), as Coach or another strategic buyer could obtain significant value from the transaction, according to the firm. The firm thinks that an acquisition of Kate Spade would raise Coach's EPS by 60c+ in the first 24 months of an acquisition, and it believes that Kate Spade could be acquired for a price in the mid-$20s per share range. KeyBanc keeps an Overweight rating on Kate Spade.
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