Nomura Securities Maintains a 'Buy' on Coach (COH); Q4 Preview
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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 maintains a 'Buy' on Coach (NYSE: COH) price target of $74.00.
Analyst, Paul Lejuez, said, "Following CEO Lew Frankfort’s more cautious tone at a conference in June, investors have been spooked by fears of a China slowdown, increased competition (from Michael Kors (Nasdaq: KORS), Tory Burch, and Kate Spade), and unexpected promo activity in the Factory channel. However, we do not believe there are any big disappointments looming. We expect 4Q EPS of $0.87 vs consensus of $0.85 and expect F13 guidance will be for double digit sales growth and EPS to grow faster than sales, likely to be viewed as strong guidance. Trading at 12.9x our June 2014E, we believe the COH story remains attractive. F13 guidance can act as a positive catalyst when they report earnings on July 31."
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 $61.02 yesterday.
Analyst, Paul Lejuez, said, "Following CEO Lew Frankfort’s more cautious tone at a conference in June, investors have been spooked by fears of a China slowdown, increased competition (from Michael Kors (Nasdaq: KORS), Tory Burch, and Kate Spade), and unexpected promo activity in the Factory channel. However, we do not believe there are any big disappointments looming. We expect 4Q EPS of $0.87 vs consensus of $0.85 and expect F13 guidance will be for double digit sales growth and EPS to grow faster than sales, likely to be viewed as strong guidance. Trading at 12.9x our June 2014E, we believe the COH story remains attractive. F13 guidance can act as a positive catalyst when they report earnings on July 31."
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 $61.02 yesterday.
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