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Coach (COH) Stock Gets Price Target Hike at Cowen

NEW YORK (TheStreet) -- Shares of Coach (COH - Get Report) closed up by 0.73% to $40.28 on Friday afternoon, following a bullish note from an analyst at Cowen & Co. in which the firm raised its price target on the stock.

Cowen raised its price target on the handbag retailer to $46 from $42 and maintained its "outperform" rating on the stock. Cowen analyst Oliver Chen still views Coach as his favorite stock in the handbag space, Barron's reports.

While still cautious on the sector, Chen believes the Coach brand is on track to achieve positive same-store sales by the fourth quarter.

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