Luxury handbag maker Coach, Inc. (
) saw its earnings estimates raised on Monday by analysts at
The firm boosted its estimates for COH through 2012, noting that
one of its analysts sees additional growth potential in China and
Europe. Goldman currently rates the stock as "Neutral" with a $43
Coach shares were mostly flat in premarket trading Monday.
The Bottom Line
We had removed shares of COH from our recommended list back on May
17, when the stock was trading at $40.06. The company has a 1.53%
dividend yield, based on Friday's closing stock price of $39.16.
The stock has technical support in the $35-$36 price area. If the
shares can firm up, we see overhead resistance around the $44-$45
price levels. We would remain on the sidelines for now.
Coach, Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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