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Tiffany Gains as Wells Fargo Sees Improved Luxury Good Demand

Tiffany (TIF) stock rose 1.70% to $81.92 in Friday's trading session after Wells Fargo upgraded shares to "market perform" from "underperform" on signs of improving demand for luxury goods.

The firm pointed to Richemont's better-than-expected third-quarter sales, noting that the global luxury retail market appears to have bottomed in the first half of 2016.

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