Pali Research Boosts Price Target on Coach (COH) to $40
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Pali Research raises its price target on Coach (NYSE: COH) from $37 to $40, saying while the company faces its first tough environment they may emerge as an even stronger company. The firm is reiterating their Buy rating.
Pali said while others are pulling back, Coach continues to remain confident in 500 full price NA stores and 125 factory outlets.
The firm said in order to offset weak traffic and buyers malaise, the company is accelerating innovation and will introduce a new look which will get customers back in the stores. They also said Coach's is nimble and management is making the right moves, like moving up product intros to take advantage of a key shopping holiday.
Pali also said, while Coach has been able to react to consumer demand for sub $200 items, there is still plenty of opportunity at the high end.
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