Coach heads back to session lows after failed bounce, levels to watch Traders tried to get a rally going in the stock close to the session open, but that rally has now failed. Shares were last at $33.74, just off the low of the day at $33.66. Next support for the stock is at $31.98. Resistance is at $34.36. BofA/Merrill earlier downgraded the name to Underperform and cut its price target to $31.
Jefferies says Coach turnaround not being appreciated, ups to Buy Jefferies analyst Randal Konik upgraded Coach (COH) to Buy from Neutral and raised his price target for shares to $50 from $35. The stock closed yesterday up 8c to $32.02. Survey results show the handbag maker is starting to attract new customers at a faster rate while its remodel initiative should help drive a return to positive comps, Konik tells investors in a research note. He believes the company's turnaround is not being fully appreciated by the market. The analyst also added Coach to the Jefferies Franchise Picks List. He coupled the upgrade with a downgrade Vera Bradley (VRA) to Hold.