COH has bucked the sector trend, rising +26% in 2023 after reporting strongly in August – FY23 sales revenue beat expectations by ~6% and FY24 earnings guidance was very strong, looking for growth of 16-23% YoY. This is a great company doing well, but it’s not cheap, leaving little room for error as investors seek refuge in the perceived pocket of safety amongst the healthcare debris.
- We like COH, another stock which reported well but has been dragged down by a heavy market, our target is ~$280 or 8% higher.
MM is bullish toward COH short term
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