Barclays Maintains an 'Overweight' on Coach (COH); Review of 1Q12

Barclays maintains an 'Overweight' on Coach (NYSE: COH) price target of $70.00.

Barclays analyst says, "Coach reported 1Q12 EPS of $0.73, $0.03 above our estimate. Sales increased 15.2% to $1.05 B, demonstrating continued top line momentum...International expansion remains on track, with China expected to achieve $300 mm in revenues this year, at the high end of the original expectations...Given upside to the quarter and solid quarter-to-date trends in October, we are increasing our FY12 EPS estimate to $3.45 from $3.40 based on comps of 5%-7% for the balance of the year. We are increasing our FY13 EPS estimate to $3.85 from $3.80."

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

Shares of Coach closed at $61.56 yesterday.

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