Citigroup reported on Wednesday that it has upgraded accessory company, Coach, Inc. (COH).
The firm has increased its rating of COH from “Neutral” to “Buy,” and has given the company a $56 price target. This price target suggests a 11% increase from the stock’s current price of $49.85.
Analysts have upgraded the stock based on its transition to being a value stock and the current price of the stock, which is partially priced based on its risk.
Coach shares were up 99 cents, or 2.03% during premarket trading Wednesday. The stock has declined -37% in the past year.
The Bottom Line
Shares of Coach, Inc. (COH) have a 2.46% yield, based on Tuesday’s closing price of $48.81.
Coach, Inc. (COH) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.