NEW YORK (TheStreet) -- Coach (COH) shares are down -1.1% to $34.59 on Wednesday after being downgraded to "underperform" from "neutral" by analysts at Buckingham Research.
The firm also cut its price target to $28 from $32 after concluding that the company will either have to cut its dividend, raise more debt than expected or do both to get its finances in order.
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TheStreet Ratings team rates COACH INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate COACH INC (COH) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, weak operating cash flow and a generally disappointing performance in the stock itself."