Tiffany & Co. Receives “Outperform” Rating from Credit Suisse (TIF)
Tiffany & Co. (NYSE:TIF)‘s stock had its “outperform” rating reaffirmed by analysts at Credit Suisse in a research report issued to clients and investors on Wednesday. They currently have a $106.00 price objective on the stock, up from their previous price objective of $104.00. Credit Suisse’s price objective would indicate a potential upside of 6.48% from the stock’s previous close.
The analysts wrote, “Given increasingly cautious commentary from global luxury brands on demand drivers in the Asia-Pacific region, we are taking a more conservative stance on estimates over the next 12 months. With APAC generating 25% of revenue and contributing over 30% of operating profit (our estimate is for APAC margins approaching 30%), any slowdown in the region could partially offset expected benefits from gold/silver product elevation and North American operational improvements. We lower our APAC comp assumptions from 7% for the balance of this year to 5%, and we lower full year revenue and EPS estimates to $4,348M and $4.24 from $4,360M and $4.28 a result. We lower our target price from $106 to $104.”
TIF has been the subject of a number of other recent research reports. Analysts at Barrington Research initiated coverage on shares of Tiffany & Co. in a research note on Monday, June 23rd. They set a “market perform” rating on the stock. Separately, analysts at HSBC raised their price target on shares of Tiffany & Co. from $110.00 to $122.00 in a research note on Friday, June 20th. They now have an “overweight” rating on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Tiffany & Co. from $95.00 to $103.00 in a research note on Friday, May 30th. They now have a “neutral” rating on the stock. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $98.18.
Tiffany & Co. (NYSE:TIF) opened at 99.55 on Wednesday. Tiffany & Co. has a 52 week low of $73.63 and a 52 week high of $103.38. The stock’s 50-day moving average is $99.72 and its 200-day moving average is $92.98. The company has a market cap of $12.846 billion and a price-to-earnings ratio of 57.38.
Tiffany & Co. (NYSE:TIF) last released its earnings data on Wednesday, May 21st. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.19. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $955.05 million. During the same quarter in the previous year, the company posted $0.70 earnings per share. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, analysts predict that Tiffany & Co. will post $4.29 earnings per share for the current fiscal year.
Tiffany & Co (NYSE:TIF) is a holding company that operates through its subsidiary companies.
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