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Fly News Breaks for October 17, 2017
COH, TPR
Oct 17, 2017 | 08:45 EDT
Baird analyst Mark Altschwager noted Q1 could be potentially "noisy" for Coach as the quarter marks the first under its new reporting structure. He said both comps and visibility are lower than in recent quarters but he said the recent valuation reset largely discounts the near-term comp/margin fears and he remains positive on the company's path toward double digit earnings growth. Altschwager reiterated his Outperform rating and lowered his price target to $49 from $52 on Coach, soon to be Tapestry, shares.
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