Tiffany & Co. Upgraded to Overweight by Stephens (TIF)
Tiffany & Co. (NYSE:TIF) was upgraded by investment analysts at Stephens from an “equal weight” rating to an “overweight” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $95.00 target price on the stock. Stephens’ price target points to a potential upside of 12.00% from the company’s current price.
The analysts wrote, “a good buying opportunity for a best-in-class global luxury jeweler with drivers that should be intact despite recent market volatility.” Wealthy customers should be able to endure stock market choppiness, said Patel. The analyst anticipates “the company will drive sales higher through price increases, product innovation, and global expansion.” “Near term, Tiffany should benefit from price increases (estimated to come in 1Q14), a revamped silver assortment, gross margin expansion (given the flow through of lower diamond costs in 1H14), and buyback,” according to Patel. The $95 price target”
Shares of Tiffany & Co. (NYSE:TIF) traded up 1.49% during mid-day trading on Tuesday, hitting $86.08. The stock had a trading volume of 1,313,774 shares. Tiffany & Co. has a 52-week low of $68.91 and a 52-week high of $94.88. The stock’s 50-day moving average is $89.73 and its 200-day moving average is $85.80. The company has a market cap of $11.091 billion and a price-to-earnings ratio of 60.16.
Tiffany & Co. (NYSE:TIF) last posted its quarterly earnings results on Friday, March 21st. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by $2.33. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the company posted $1.40 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts expect that Tiffany & Co. will post $4.18 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Stephens & Co. upgraded shares of Tiffany & Co. from an “equal weight” rating to an “overweight” rating in a research note on Tuesday. They now have a $95.00 price target on the stock. Separately, analysts at KeyCorp reiterated a “buy” rating on shares of Tiffany & Co. in a research note on Wednesday, April 9th. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Tiffany & Co. from $93.00 to $95.00 in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $94.87.
Tiffany & Co (NYSE:TIF) is a holding company that operates through its subsidiary companies.
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