Coyle signed Fletcher from Scottish side Hibs while in charge at Burnley, but the striker later joined Wolves.
“Fletch is a player I think the world of,” Coyle said.
“I brought him to Burnley for £2.75million and they sold him for £7m, and I think he’s getting better and better.
“I think in the summer when he became available we didn’t have anything like the finance to sign that sort of player for those prices.
“But he’s a terrific lad and he’ll go a long way at a wonderful football club.”
