Morgan Stanley downgrades Coach (NYSE:COH) to an Underweight rating after having the stock set at Equalweight.
Analyst Kimberly Greenberger raises concerns over the sharp drop in merchandise margins at the luxury chain due to a high level of promotional activity in the outlet channel.
LEA TAMBIÉN: Finanzas: Philip Morris declares $1.04 dividend
The investment firm lowers its price target to $32 vs. the 52-week Coach trading range of $27.22 to $43.71.
COH -2.37% premarket to $35.43.
Fuente: Seeking Alpha
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