Mea Culpa Coach

Cramer admitted he has been wrong with his negativity on Coach (COH) and now investors are free to buy the stock. Cramer said he listened to the media and didn’t do his homework on the high-end consumer products maker. Cramer bought into the media hype that Coach was having inventory problems. He said he should have trusted CEO Lew Frankfort when he came on Mad Money and said a that a bad quarter was a one time thing. Had investors listened to Frankfort they would have caught a double in the stock. Cramer explained that Coach is growing sales and earnings at 19% and the shares trade at 15 times next year’s earnings. Cramer called COH cheap and said the company is buying back stock aggressively and expanding into China. Cramer advised investors to start buying Coach again.
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Fuente Original

  8 May, 2008| Economy | @ 18:45

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