Needham & Company Reiterates a 'Buy' on Coach (COH); Earnings Preview – F2Q12
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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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Needham & Company reiterates a 'Buy' on Coach (NYSE: COH) price target of $74.00.
Needham analyst said, "At ~17x our CY2012 EPS estimate of $3.77, COH is trading above the sector average of ~14x, but below its historical average of 25x. COH’s product has resonated well with customers and we believe the higher-end consumer will continue to increase spending going into CY2012, leading to higher conversion and AURs to drive SSS. Pricing power should help offset increased sourcing costs. Strong global brand equity provides tremendous opportunity for international growth long term, driven by East Asia, particularly greater China."
"We think COH will at least meet our F2Q12 (Dec) EPS estimate of $1.16 vs. $1.00 LY. Our F2Q12 EPS estimate of $1.16 is a penny above consensus of $1.15...We think COH will meet our F2Q12 SSS estimate of +6.0% vs. +12.6% LY, which is higher than consensus of +5.5%...We think that COH will be conservative and reiterate revenue & EPS guidance of +DD% growth vs. LY."
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 $64.84 yesterday.
Needham analyst said, "At ~17x our CY2012 EPS estimate of $3.77, COH is trading above the sector average of ~14x, but below its historical average of 25x. COH’s product has resonated well with customers and we believe the higher-end consumer will continue to increase spending going into CY2012, leading to higher conversion and AURs to drive SSS. Pricing power should help offset increased sourcing costs. Strong global brand equity provides tremendous opportunity for international growth long term, driven by East Asia, particularly greater China."
"We think COH will at least meet our F2Q12 (Dec) EPS estimate of $1.16 vs. $1.00 LY. Our F2Q12 EPS estimate of $1.16 is a penny above consensus of $1.15...We think COH will meet our F2Q12 SSS estimate of +6.0% vs. +12.6% LY, which is higher than consensus of +5.5%...We think that COH will be conservative and reiterate revenue & EPS guidance of +DD% growth vs. LY."
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 $64.84 yesterday.
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