Coach (COH) PT Raised to $50 at Wells Fargo Following Acquisition of KATE
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Price: $39.90 --0%
Rating Summary:
18 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 3 | Down: 4 | New: 5
Rating Summary:
18 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 3 | Down: 4 | New: 5
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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.
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