NEW YORK, Dec 13 (Reuters) - Coach Inc (COH.N), maker of luxury handbags, wallets and other accessories, could see its earnings recover from an earlier-year slump, helped by new product launches and store openings domestically and overseas, according to Barron's Dec. 14 edition.

www.coach.com

Earnings for the current fiscal year ending in June 2010, could rise 7 percent over fiscal 2009 results, to $664 million, or $2.07 per share, on slightly higher revenue of $3.4 billion, Barron's said. Sales at stores open at least a year could rise 3 percent after losing 7 percent in fiscal 2009, the paper said.

The stock, which closed at $35.84 on Friday 11 December, could climb to $42 next year, Barron's said, citing Goldman Sachs analyst Adrianne Shapira, who recently raised her rating on the stock to "buy" from "neutral."

The stock traded as low as $11.41 in March.

Lew Frankfort, Coach chairman and chief executive, told Barron's that the company can increase sales about 10 percent a year and earnings can rise even faster once the U.S. economy bounces back.

"We're a growth story," he told Barron's, citing productivity gains in the United States and potential to expand overseas particularly in China.

Coach shares trade at 17.4 times analysts' fiscal 2010 average estimate -- 16 times after subtracting the company's $3 a share in net cash. (Reporting by Ilaina Jonas, editing by Maureen Bavdek)