Tue Oct 24 13:37:00 -0400 2006

PR Newswire (New York)

—Telsey Advisory Group™ (http://www.telseygroup.com), an independent research firm founded by Dana Telsey, one of Wall Street’s leading retail analysts, today announced it has increased its price target on Coach, Inc. (COH), one of its 38 retail companies under coverage.

James Hurley, luxury goods analyst for Telsey Advisory Group (TAG), raised his Coach 12-month price target to $43-$45 from $38-$40. The bullish outlook comes ahead of Coach’s fiscal first-quarter 2007 earnings release, scheduled for Tuesday, October 24. TAG expects Coach to report fiscal first-quarter 2007 earnings per share of $0.32 vs. $0.24 last year and above the consensus expectation of $0.31.

To view the full article, download the PDF here: PR Newswire, October 23, 2006