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Downgrade Alert for Coach (COH)

By David Diaz

Coach (NYSE:COH) was downgraded from Outperform to Market Perform at BMO Capital today. The stock closed yesterday at $35.69 on volume of 38.5 million shares, above average daily volume of 4.9 million.

In the past 52 weeks, Coach share prices have been bracketed by a low of $35.00 and a high of $59.58 and closed yesterday at $35.69, 2% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 1.9%.

Coach, Inc. designs, produces, and markets primarily leather goods. The Company's products include handbags, business cases, men's and women's accessories, luggage and travel accessories, leather outerwear, and gloves. Coach, together with a licensing partner, offers watches, footwear, furniture, and eyewear.

Coach (NYSE:COH) has potential upside of 33.6% based on a current price of $35.69 and analysts' consensus price target of $47.69. Coach shares should first meet resistance at the 50-day moving average (MA) of $43.34 and find additional resistance at the 200-day MA of $49.96.

SmarTrend recommended that its subscribers protect gains by selling shares of Coach on April 29th, 2014 by issuing a Downtrend alert when the shares were trading at $46.17. Since that call, shares of Coach have fallen 22.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades coach

Ticker(s): COH