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Investment analysts at Credit Suisse lowered their target price on shares of Coach (NYSE:COH) from $39.00 to $30.00 in a note issued to investors on Thursday. The firm currently has a “hold” rating on the stock. Credit Suisse’s target price suggests a potential downside of 14.43% from the stock’s previous close.

The analysts wrote, “We now believe that Coach is on the right track following introduction of its brand transformation initiative, but remain concerned with respect to shares, given our view that earnings power will be delayed into late FY16 at the earliest. “We are impressed by Coach’s plans to: 1) close 70 underperforming stores; 2) roll out a new store design concept and devote more resources to flagships; 3) create brand presence in department stores; 4) focus and intensify its marketing message; 5) reduce flash sale events (to 3 per month from 3 per week); and 6) improve product and seasonal flow in the outlet channel. “We view these initiatives as necessary for long-term brand survival among increasing competition but expect returns to be delayed in late FY16, suggesting a multiple discount relative to peers remains in order. We reiterate our Neutral rating, lower our FY15 EPS estimate to $2.05 from $2.84, and our TP to $30 from $39.”

Other equities research analysts have also recently issued reports about the stock. Analysts at Bank of America downgraded shares of Coach from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 25th. They now have a $31.00 price target on the stock, down previously from $38.00. Separately, analysts at Renaissance Capital reiterated a “buy” rating on shares of Coach in a research note on Monday, June 23rd. They now have a $44.00 price target on the stock, down previously from $54.00. Finally, analysts at Wedbush downgraded shares of Coach from a “neutral” rating to an “underperform” rating in a research note on Monday, June 23rd. They now have a $26.00 price target on the stock, down previously from $40.00. Five research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have issued a buy rating to the company’s stock. Coach presently has a consensus rating of “Hold” and a consensus price target of $41.00.

Shares of Coach (NYSE:COH) traded up 0.23% during mid-day trading on Thursday, hitting $35.14. The stock had a trading volume of 4,833,125 shares. Coach has a 1-year low of $33.60 and a 1-year high of $59.58. The stock has a 50-day moving average of $38.89 and a 200-day moving average of $46.90. The company has a market cap of $9.634 billion and a P/E ratio of 10.69. Coach also was the target of some unusual options trading activity on Wednesday. Investors bought 38,994 call options on the company. This represents an increase of approximately 336% compared to the typical volume of 8,953 call options.

Coach (NYSE:COH) last released its earnings data on Tuesday, April 29th. The company reported $0.68 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.61 by $0.07. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company posted $0.84 earnings per share. The company’s quarterly revenue was down 7.4% on a year-over-year basis. On average, analysts predict that Coach will post $3.04 earnings per share for the current fiscal year.

Coach, Inc (NYSE:COH) is a marketer of accessories and gifts for women and men.

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