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Coach and Kate: Why It’s the Perfect Match

Kate Spade could help Coach expand its footprint in categories like jewelry and apparel.

Investors are excited that Coach’s Kate Spade acquisition gives the company new exposure to millennial shoppers, but that could just be the start.

Canaccord Genuity analyst Camilo Lyon is optimistic about Coach’s potential to grow its business in other ways once it officially pockets Kate Spade. He initiated coverage of Coach with a Buy rating on Friday and thinks shares could fetch $59...