Nomura Securities Maintains a 'Buy' on Coach (COH); Preview of 4Q Results

Nomura Securities maintains a 'Buy' on Coach (NYSE: COH), price target raised from $64 to $72.

Nomura analyst, Paul Lejuez, says, "We expect strong 4Q (qtr ended Jun) results both in the US and internationally, with a +10-12% comp in the US, China sales +75%, Japan sales down 2-4% and wholesale sales down 5%. In the US, we believe higher price point items have been accepted by customers. In China, we believe COH will beat its recently raised F11 sales goal of $185MM (we forecast ~$198MM). Our 4Q11E is $0.67 vs. consensus of $0.65."

For more ratings news on Coach click here and for the rating history of Coach click here.

Shares of Coach closed at $64.05 yesterday.

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