NEW YORK (MarketWatch) — Coach Inc. (COH 39.94, +1.24, +3.20%)
and Urban Outfitters Inc. (URBN 38.30, +1.45, +3.94%) were upgraded to overweight from neutral by J.P. Morgan on Friday morning.
What timely advice! Coach had a 52-week range of $16.10 - $39.28 but opened today at a new high of $39.69 on this upgrade.
URBN had a 52-week range of $14.91 - $37.32 prior to J.P. Morgan’s upgrade and opened at $37.75 today.
What is the value in analysts that go from neutral to overweight well AFTER huge [100% - 200%] up moves?
See my much earlier write-ups on both these stocks when they actually represented good value.
Disclosure: Long COH,URBN but at lower prices