Nomura Securities reiterates a 'Buy' on Coach (COH); Recap of 3Q Results
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Price: $39.90 --0%
Rating Summary:
18 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
18 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities reiterates a 'Buy' on Coach (NYSE: COH).
Nomura analyst, Paul Lejuez, said, "The quarter was particularly strong considering the negative impact of Japan and the calendar shift. Our thesis on Coach remains unchanged. It has one of the most attractive business models in the history of retail and is in the early stages of exporting that model to the rest of the world. The company is also relatively well-positioned in the current cost-inflationary environment, as it buys little cotton and it has pricing power, in our view. Mgmt indicated that GM could be up sequentially in 1H12 (vs 2H11), an encouraging sign considering market fears about costs...estimates and price target remain unchanged."
For more ratings news on Coach click here and for the rating history of Coach click here.
Shares of Coach closed at $57.25 yesterday.
Nomura analyst, Paul Lejuez, said, "The quarter was particularly strong considering the negative impact of Japan and the calendar shift. Our thesis on Coach remains unchanged. It has one of the most attractive business models in the history of retail and is in the early stages of exporting that model to the rest of the world. The company is also relatively well-positioned in the current cost-inflationary environment, as it buys little cotton and it has pricing power, in our view. Mgmt indicated that GM could be up sequentially in 1H12 (vs 2H11), an encouraging sign considering market fears about costs...estimates and price target remain unchanged."
For more ratings news on Coach click here and for the rating history of Coach click here.
Shares of Coach closed at $57.25 yesterday.
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