Jefferies Upgrades Coach (COH) to Buy

Jefferies upgraded Coach (NYSE: COH) from Hold to Buy with a price target of $60.00.

The firm said, "We believe the recent market pullback has created a compelling buying opportunity with COH shares. We cannot ignore the powerful brand here with sales momentum and a global growth story consistent with our broader industry thesis to buy global growth retailers. While valuation kept us on the sidelines before, we now view valuation as attractive and current risk/reward as compelling."

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

Shares of Coach closed at $47.20 yesterday.

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