Both French wingers have been linked with the Gunners in the past week.
But according to Football London journalist, Charles Watts, Emery prefers the Barcelona man.
“Kingsley Coman is a player most sides in Europe would be looking at if he was available – and Arsenal are no different.
“He plays in an area that Emery would ideally like to strengthen, although I still believe Ousmane Dembele is the wide attacker that the club really want.
“Getting Dembele out of Barcelona though looks very unlikely, unless they agree to a loan, so Coman would certainly be a player of interest at the Emirates.
“But the fact is Arsenal just don’t have the money to attempt to sign him, unless they sell a number of players first,” Watts said.
Emery is currently with the Arsenal squad in Singapore on a pre-season tour.