"I've been waiting & watching for an immediate-term TRADE oversold signal in this bullish intermediate-term TREND view by Retail analyst Brian McGough," writes Hedgeye CEO Keith McCullough. "With Coach (COH) -2.6% today, I'm getting what I waited for."
Here's an excerpt from McGough's recent Institutional Investor research note on COH:
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"Sorry bears…COH is just gaining traction. We’re modeling upside in nearly every line of the P&L (except SG&A) over TREND & TAIL duration. Despite the downgrades, the ‘great KATE deal’ consensus, and people not wanting to place a bet long-side on the perennially underperforming Coach after a 32% YTD run – this call is not over. In fact, I’d argue that it’s just beginning." |
