Canaccord Genuity Upgrades Coach to "Buy"; Says Selling is Overdone (COH)

Canaccord Genuity Upgrades Coach to “Buy”; Says Selling is Overdone (COH)


Luxury handbag maker Coach, Inc. (COH) on Tuesday caught a big upgrade from analysts at Canaccord Genuity.

The firm boosted its rating on COH from “Hold” to “Buy” with a $71 price target, suggesting a 29% upside to the stock’s Monday closing price of $54.84.

Canaccord Genuity believes investors have overreacted to COH’s investment plans for 2013, and sees China as a big growth driver over the next several years.

Coach shares rose $1.01, or +1.8%, in premarket trading Tuesday.

The Bottom Line
Shares of Coach (COH) have a 2.19% dividend yield, based on last night’s closing stock price of $54.84. The stock has technical support in the $46-$49 price area. If the shares can firm up, we see overhead resistance around the $60 price level.

Coach, Inc. (COH) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Free Updates

Join over 100,000 investors who get the latest news from

Best Dividend Stocks

Looking for stocks that are poised for growth and pay solid dividends? Visit our list of the:

Best Dividend Stocks

14 Day Free Trial

Earn more from your dividend portfolio within the next 14 days.

Sign Up Today