Friday, April 4, 2008

Coach Shares Rise on Upgrade


Shares of Coach rose today after a Buckingham Research Group analyst upgraded the stock and said the luxury handbag and accessories maker's business has stabilized.

David J. Glick said Coach's business has stabilized at a time when overall conditions have worsened. Handbag growth is unlikely to resume growing at the 20 percent it was previously, but Glick said there are other factors working in Coach's favor.

Those include improving Coach results at department stores, and innovative new product offerings for the fall that are being reviewed well, Glick said.

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