Tiffany & Co.
Oppenheimer’s Brian Nagel maintained an Outperform rating on Tiffany, while raising the price target from $80 to $87.
“In our view, TIF represents an established, yet still up-and-coming global luxury brand, with the potential to continue to successfully build consumer recognition in new and existing markets,” Nagel wrote.
Tiffany continues to face a tough sales backdrop and higher expenses could impact its results, leading to the company missing the
The analyst reduced the EPS forecast for the quarter from $0.66 to $0.62, versus the Street’s $0.67.
The EPS estimate for Q4 has been raised from $1.46 to $1.49, versus the Street's $1.47.
“Longer term, we are increasingly optimistic that internal merchandising and marketing efforts have the potential to fuel improved results, particularly as macro pressures potentially subside,” Nagel stated. He noted that although the company’s shares had gained almost 30 percent since late June, they were still below the all-time peaks of more than $100.
|Nov 2016||Cowen & Co.||Upgrades||Market Perform||Outperform|
|Sep 2016||Guggenheim||Initiates Coverage on||Buy|
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