Coach Q1 ‘Good Enough For Now,’ But Not A Buy: Citi

Coach (COH) reported better-than-expected first-quarter earnings Tuesday, sending shares up nearly 4%. REUTERS However, Citigroup’s Paul Lejuez and Tracy Kogan reiterated a Neutral rating and $31 price target, writing that while the quarter was “good enough for now,” it was largely in-line with their expectations. They believe that without a reversal benefitting selling, general and administrative costs, Coach […]