Coach (COH) Unveils Its Next Disney Collaboration - Piper Jaffray
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Piper Jaffray analyst, Erinn Murphy reiterated her Overweight rating on Coach (NYSE: COH) following the official release of the Disney x Coach 1941 collaboration which she believes will be a positive comp driver in Q4. Coach and Disney are partnering to do a limited edition 36- piece Mickey Mouse collaboration. On Friday, the company officially unveiled its collection in high-end specialty boutique Colette in Paris and in Soho in NY. The product will be available on Coach.com and Coach stores worldwide beginning June 17th. The limited edition product line marks the second collaboration, following Peanuts (Snoopy), which was released late Fall 2014 which was particularly successful. We anticipate similar results for the Mickey collection. Following 24 hours of Coach's first Instagram post announcing the collection, there were 13.7k "likes"--90% more than the average like per post that stands ~7.2K--clearly underscoring the consumer engagement to this launch.
The firm reiterated an Overweight rating and price target of $47.00
*** SI NOTE: Coach was highlighted in Stealth Growth Insider on 5/10. Sign-up for free here.
Shares of Coach closed at $37.85 yesterday.
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