Coach Inc (COH) stock closed up over 2% Friday and is likely to continue gains once early August earnings provide more details about the company's Kate Spade (KATE) deal, Oppenheimer analysts Anna Andreeva and Samantha Lanman said.
The analysts raised their price target for Coach to $55 from $50. They're optimistic about the accessory brand's deal with industry peer Kate Spade and see as much as 15 cents upside to 2018 earnings as a result.
Coach made a formal bid for Kate Spade in May, offering $18.50 per share in a deal valued at $2.4 billion.
Coach stock has gained 36% since the start of the year.
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The biggest deal-maker around strikes again: Berkshire Hathaway Energy, a division of Warren Buffett's Berkshire Hathaway Inc., (BRK.A - Get Report) (BRK.B - Get Report) , confirmed Friday that it will purchase Oncor Electric Delivery Co. LLC in a deal that values the bankrupt unit's equity at $11.25 billion. "Oncor is an excellent fit for Berkshire Hathaway, and we are pleased to make another long-term investment in Texas - when we invest in Texas, we invest big!", Buffett said in a statement. "Oncor is a great company with similar values and outstanding assets."
Clearly, Buffett is still bullish on America's future. TheStreet takes a look at the billionaire's biggest bets on America.
Who cares, Elon: Tesla (TSLA - Get Report) agreed to build the world's largest lithium-ion battery park in South Australia on Friday, signing off on a deal to finish the installation within 100 days or give it away for free. Failure to deliver the project on time would cost his company about $50 million, said CEO Elon Musk, though neither the state government nor Tesla released details of the contract.
Qualcomm battle with Apple gets even nastier: Qualcomm (QCOM - Get Report) added a couple of unexpected wrinkles into its legal salvo with Apple (AAPL - Get Report) , TheStreet's tech columnit Eric Jhonsa says. One of these wrinkles aims to neutralize some of the legal arguments Apple, as well as certain regulators, have been making against Qualcomm. The other, says Jhonsa, aims to both lower the odds of a political intervention in Apple's favor, as well as boost Qualcomm's near-term chip sales at Intel Corp.'s (INTC - Get Report) expense.
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