William Blair Downgrades Coach To Market Perform; Prefers To Move To The Sidelines
In a research report released today, William Blair analyst Amy Noblin downgraded the rating on Coach, Inc. (COH) to “Market Perform” from “Outperform”.
Noblin comments: “Coach presented bold steps to reinvigorate the brand and restore growth, while seemingly clearing the decks on fiscal 2015 guidance, beyond what were low investor expectations. We see value in the brand and believe the transformation strategy is sound and that this solid management team can execute the plan. Still, the strategy encompasses more moving pieces than even we had anticipated, making it more difficult to have visibility on when these initiatives will affect the top line. Thus, despite the stillstrong balance sheet, return characteristics, and attractive yield, we are downgrading the stock to Market Perform until we have more visibility on the timing of an inflection”.
According to TipRanks, which measures analysts and bloggers success rate based on how their calls perform, analyst Amy Noblin currently has a one-year average return of -24% and a 0% success rate. He is ranked #2900 out of 3118 analysts.