Luxury retailer Coach,which offers a line of fine leather goods,received an upgrade from JP Morgan.The old investment firm raised Coach from hold to buy,also increasing its price target for the stock from 35 to 40 dollars.JP Morgan cited Coach's improving margins and increased square footage.
As the affluent's portfolios rebound from the financial crisis,they are returning to the stores.Another member of the group that is benefiting is department store chain Saks.Others to watch for include department store Nordstrom and jeweler Tiffany.
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