Coach (COH) PT Raised to $50 at Wells Fargo Following Acquisition of KATE
Wells Fargo raised its price target on Coach (NYSE: COH) to $50.00 (from $47.00) while maintaining a Outperform rating following the company's announced acquisition of KATE.
The all-cash transaction of $18.50/share creates the first NY-Based “House of Modern Luxury Lifestyle Brands”, with COH expecting to utilize their expertise in retail, international markets and supply chain to enhance the KATE business.