Collins Stewart Raises Price Target on Coach (COH), Remains On Sidelines

Collins Stewart is maintaining its Neutral rating on shares of Coach (NYSE: COH) while raising its price target from $67 to $71 on better-than-expected December-quarter results.

The company forecasts its men's line will double year over year to above $400 million in fiscal 2012. An analyst at the firm comments, "We believe there has been some improvement in the men's merchandise, but remain concerned that much of the product may be too feminine for most U.S. men."

The firm raised its FY12 and FY13 EPS estimates from $3.46 and $4.00 to $3.51 and $4.10.

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 $64.24 yesterday.

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