Goldman Sachs Slaps a "Sell" on Coach (COH)

December 11, 2012 7:27 AM EST
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Price: $35.31 +0.60%

Rating Summary:
    21 Buy, 24 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Goldman Sachs resumes coverage on Coach (NYSE: COH) with a Sell and $58 price target.

The rating reflects "relative underperformance we see for COH versus our broader
group, and we do not see any absolute downside for shares from here."

Goldman said the chief concern for Coach is market share risk as Michael Kors (Nasdaq: KORS) growth story plays out. (Note: Goldman also started coverage on KORS at CL Buy)

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 $56.32 yesterday.

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