Coach (COH) Price Target Raised to $40 at Topeka

Topeka Capital maintained a Hold rating on Coach (NYSE: COH) and raised its price target to $40.00 (from $37.00). Analyst Dorothy S. Lakner noted 'some green shoots' in its Q2 report.

"COH seems to be making steady progress in its transformation, with sequential improvement in its NA business, and growth in newer markets China and Europe, yielding a quarter in line with management's plan, though ahead of the Stree," said Lakner.

"We heard two positive adjustments to the plan: 1) an opportunity to offer more product at opening price points, and 2) a desire to broaden marketing appeal of the newly repositioned brand. While encouraged by some early green shoots in the transformation, we remain on the sidelines pending further "sprouting" in the upcoming season," she added.

For an analyst ratings summary and ratings history on Coach click here. For more ratings news on Coach click here.

Shares of Coach closed at $36.46 yesterday.

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