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Coach is your best bet in 'affordable luxury,' Credit Suisse says

People walk past the illuminated facade of a Coach store in Hong Kong.
Brent Lewin | Bloomberg | Getty Images

Credit Suisse analysts upgraded fashion retailer Coach to outperform from neutral and bumped up their price target Wednesday, citing price stabilization and shelf-space gains at department stores.

"We believe Coach is the best positioned company in the 'affordable luxury' accessory group and view this more favorable risk/reward scenario as a compelling reason to put money to work," Credit Suisse said in a note to clients.