Coach Downgraded to Underperform at Wedbush, PT Cut $14 to $26; Shares Lose 1% Early

Luxury goods company Coach Inc. (COH) has been downgraded by analysts at Wedbush Morgan to an underperform rating from neutral.

The firm also reduced its price target on the stock to $26 from $40 a share.

In today’s pre-market session, shares of COH have slid 1.24% to $34.30, and move within a 52-week trading range of $34.31 – $59.58.

Coach, Inc. designs and markets bags, accessories, business cases, footwear, wearables, jewelry, sunwear, travel bags, watches, and fragrances for women and men in the United States and internationally. The company offers handbags, money pieces, wristlets, rings, charms, and cosmetic cases for women; and business cases, computer bags, messenger-style bags, totes, wallets, card cases, belts, as well as time management and electronic accessories for men. It provides wearables, such as scarves, jackets, gloves, and hats; jewelry comprising bracelets, necklaces, rings, and earrings made with sterling silver, leather, and non-precious metals; and travel bags, including luggage, travel kits, and valet trays.

About

Jennifer McKinney, CFA, is an equity analyst for The Downtown Leader. If you have a great story idea for Jennifer McKinney, you can write at [Jennifer.McKinney@downtownleader.com ].

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